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


By tovarichpeter   Follow   Mon, 25 Jun 2012, 12:01pm PDT   642 views   4 comments
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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   Mon, 25 Jun 2012, 12:39pm PDT   Share   Quote   Permalink   Like   Dislike     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   Mon, 25 Jun 2012, 1:01pm PDT   Share   Quote   Permalink   Like   Dislike     Comment 2

TMAC54   Mon, 25 Jun 2012, 1:34pm PDT   Share   Quote   Permalink   Like   Dislike     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   Tue, 26 Jun 2012, 12:00am PDT   Share   Quote   Permalink   Like   Dislike     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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