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Politics : Politics for Pros- moderated

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To: skinowski who wrote (269043)	9/16/2008 10:44:23 PM
From: Hawkmoon	Read Replies (1) of 793914

so, the Fed committed 85 bil for 80% of the company. Besides the socialistic implications of this move - What if it doesn't work? If it avoids a Trillion dollar meltdown from the disorderly unraveling of those CDS's, it will be money well spent. Sad to say that, but it's the reality of the situation. What's really just incredibly cynical is how the rating agencies (S&P, Moody's) have suddenly "found religion" when it comes to properly assessing risk and downgrading company assets. Might have served us all a lot better had they not had their hand in the cookie jar when they were hyping the AAA credit worthiness of all of those toxic CDOs/MBS's laced with sub-primes and Alt-A liar loans. Their arbitrary upgrades/downgrades have become financial WMD's that just feed into the rampant Naked Short Selling that's going on. And that short-selling against the financials is undermining the market's (and the public's) confidence in the system. Hawk

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