http://www.bloomberg.com/apps/news?pid=20601087&sid=aKwp3vLz5mh0 The rating agencies....such as Moodys, Standard and Poors, Fitch etc.... are not above the law.... They are directly responsible for improperly labeling CCC paper as AAA paper.... There would not be a crisis today had the paper been rated CCC....as very few investors would have invested.... Justice in the US....Where ? When ? ............................................................................. This is beyond pathetic.... .............................................................................. The US has a chance to take advantage of the current opportunity....to build "trust".... 1) By establishing and enhancing a new worldwide direct access securities exchange for all securities.... 2) By requiring a boilerplate approach to reporting and factual information about the securities that are publicly traded.... 3) To separate "management" from factual information.... Hedge funds, mutual funds should just trade as $10 stocks .... The idea that the world's investors are just going to "get over" the greatest mis-labeling fraud of all time is rediculous.... The US needs to send a clear signal to the world that this problem has been "eliminated"....
The rating agencies....such as Moodys, Standard and Poors, Fitch etc.... are not above the law.... They are directly responsible for improperly labeling CCC paper as AAA paper... ------------------------------ Ho hum..zzzzzzzzz yawn snore zzzzzzzz I read "they" are investigating Bloomberg pricing methodology, now that is some schnizzle for our dizzle.
The problem is not the rating agencies. The problem is the fact that people are so uncritically minded that they put their very hard earned money into people's hands whom they know nothing about. They give their money to 'financial planners' or they listen to cnbc, or the wallstreet journal, etc etc. If people aren't smart enough to learn from their obvious mistakes the problem will once again be repeated. That said, the rating agencies are ridiculously fraudulent. They should be dissolved.