Liberalism: Do You Agree We've Had Enough of It? Message Board

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Politics : Liberalism: Do You Agree We've Had Enough of It?

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To: LLCF who wrote (47536)	9/19/2008 10:38:09 AM
From: cirrus	1 Recommendation Read Replies (1) of 224655

Securitization isn't a bad thing if done correctly, but the credit watchdog and rating agencies were attaching "investment grade" ratings to packages of sub-prime variable rate loans. The ratings had the usual fine print disclaimers protecting the agency from those who relied on the ratings... and no rating agency executives went to the slammer for what amounted to fraud. The "investment grade" ratings convinced institutional buyers (who should have known better) to buy in. We know know the end result of this comedy of errors. securitization and "pre-packaging"

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