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Strategies & Market Trends : The Residential Real Estate Crash Index
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To: Giordano Bruno who wrote (124391)5/21/2008 12:37:41 PM
From: Les HRead Replies (2) of 306849
 
You put a lie into the computer and out spits the "truth".

"Some senior staff at Moody's Investors Service were aware in early 2007 that constant proportion debt obligations, funds that used borrowed money to bet on credit-default swaps, should have been ranked as much as four levels lower, the Financial Times said, citing internal Moody's documents. Moody's altered some assumptions to avoid having to assign lower grades after correcting the error, the FT said."

bloomberg.com
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