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Strategies & Market Trends : Mish's Global Economic Trend Analysis
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To: Think4Yourself who wrote (76068)3/13/2008 3:28:43 PM
From: Sunny Jim  Read Replies (2) of 116555
 
biz.yahoo.com

S&P forecasts end is near for asset write-downs. I find that rather suspicious. All the banks are saying they have a ways to go, yet S&P, who was a major player in AAA ratings in the securitization game, now says the end of the problem is near. Have they got credibility or what? One has to wonder if they aren't just trying to provide cover for their investment banking friends while they try to unload more junk. I guess the FED is worrying over nothing with their latest lending plans.
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