Moody’s Notices That Banks Are Risky, Four Years Too Late

By tovarichpeter   follow   Mon, 25 Jun 2012, 12:01pm PDT   ↑ Like   ↓ Dislike   807 views   4 comments   Watch (0)   Share   Quote  

http://www.bloomberg.com/news/2012-06-22/moody-s-notices-that-banks-are-risky-four-years-too-late.html

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Dan8267   befriend (17)   ignore (12)   Mon, 25 Jun 2012, 12:39pm PDT   Like   Dislike     Share   Quote   Comment 1

Second, and more important, ratings are by their nature backward-looking. They fall only after the problems of a borrower are obvious and demonstrable. So they should catch markets by surprise only if investors haven’t been doing their homework.

Which is exactly why ratings are worthless.

Dan8267   befriend (17)   ignore (12)   Mon, 25 Jun 2012, 1:01pm PDT   Like   Dislike     Share   Quote   Comment 2

TMAC54   befriend (9)   ignore (5)   Mon, 25 Jun 2012, 1:34pm PDT   Like   Dislike     Share   Quote   Comment 3

Who pays the rating agencies ?
While getting my feet wet day trading, a month or so prior to the prick, I used MANY different rating agencies.
EVERY SINGLE FUCKING ONE OF THEM WAS BULLISH ALL THE WAY DOWN !

TMAC54   befriend (9)   ignore (5)   Tue, 26 Jun 2012, 12:00am PDT   Like   Dislike     Share   Quote   Comment 4

E-man says

That's not big enough. :)

It's a MAGIC wand Dan ! Have'nt you ever heard of a BALLOON payment ?

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