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Forum Post: Things People Said

Posted 10 years ago on Dec. 3, 2011, 2:34 p.m. EST by pandoras (56)
This content is user submitted and not an official statement

“The rating agencies are just lying in wait to see who they can downgrade to make up for their past mistakes.”

“If you see what some of the banks are now running in their war rooms, it’s really, really scary.”

“The Minsky moment for banking has arrived.”




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[-] 1 points by OccidentWillStrike (42) 10 years ago

Focus on WallSt. Don't get distracted. Enter the war rooms. Find out the truth.

[-] 1 points by pandoras (56) 10 years ago

The rating agencies are kind of part of Wall Street too?

[-] 1 points by debndan (1145) 10 years ago

Yes, yes they are. They are charged for rating debt by underwriting agencies.

During the subprime bubble that duty was for hire, if you wanted a junk bond rated Aaa you paid more(bribe).

Now that they are under investigation for fraud, they 'decided' US debt was 'risky'

Rating agencies used to be run by people of integrity 20 years ago, and were the 'backbone' of confidence in the system.

like too many other corps, they are of the crook, for the crook, by the crook.

[-] 1 points by pandoras (56) 10 years ago

That was rhetorical, but thanks.

[-] 1 points by OccidentWillStrike (42) 10 years ago

WallStreet-Pedia for all entities. Do you know http://www.sourcewatch.org/index.php?title=SourceWatch

[-] 1 points by AnnaViolet (4) from Indianapolis, IN 10 years ago

I'd like to see a rating for businesses highest salary to lowest ratio. One for 40/1; 2 for 30/1 and 3 for 20/1. Then people could chose from whom to buy depending on the ratio -- the lower the better...

[-] 1 points by pandoras (56) 10 years ago

The rating agencies actually do more important things than that (and not doing them very well): http://www.fitchratings.com http://www.standardandpoors.com/ratings/en/us/ http://www.moodys.com/