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

By tovarichpeter   2012 Jun 25, 12:01pm   ↑ like   ↓ dislike   968 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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1   Dan8267 (270/273 = 98% civil)   2012 Jun 25, 12:39pm  ↑ like   ↓ dislike   quote   top   bottom   home   share  

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.

2   Dan8267 (270/273 = 98% civil)   2012 Jun 25, 1:01pm  ↑ like   ↓ dislike   quote   top   bottom   home   share  

3   TMAC54   2012 Jun 25, 1:34pm  ↑ like   ↓ dislike   quote   top   bottom   home   share  

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 !

4   TMAC54   2012 Jun 26, 12:00am  ↑ like   ↓ dislike   quote   top   bottom   home   share  

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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