My OperaMoodys Reports And Stock Performance Documents The Failure Of Capitalism And Lack Of Trustworthy Investing Opportunities
Friday, May 30, 2008 7:27:05 PM
Mike Mish Sheldon in Swap Traders Don't Trust Moody's, S&P relates that Moody's Corp has a severe credibility problem, as well as a business model totally dependent on government sponsorship, and based on conflicts of interest.
Mr. Sheldon questions "Is there any explanation for maintaining AAA ratings of MBIA and Ambac through this )current credit)debacle other than incompetence or corruption? If there is someone let me know what it is. It's not just swap traders who do not trust the rating agencies, I do not think anyone does. How can they?"
Yahoo Finance 2 year chart of Moody's Corp
Yahoo Finance multi year chart of Ambac Financial Group, ABK, and MBIA, MBI documents the awesome financial returns that came to those these two organizations and their investors, which were at the forefront of financialization, that is securitization, that came from the repeal of the Glass Steagall Act.
Mr. Sheldon questions "Is there any explanation for maintaining AAA ratings of MBIA and Ambac through this )current credit)debacle other than incompetence or corruption? If there is someone let me know what it is. It's not just swap traders who do not trust the rating agencies, I do not think anyone does. How can they?"
Yahoo Finance 2 year chart of Moody's Corp
Yahoo Finance multi year chart of Ambac Financial Group, ABK, and MBIA, MBI documents the awesome financial returns that came to those these two organizations and their investors, which were at the forefront of financialization, that is securitization, that came from the repeal of the Glass Steagall Act.
