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Strategies & Market Trends : Value Investing
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To: Dale Baker who wrote (34148)4/12/2009 4:13:33 PM
From: Spekulatius1 Recommendation  Read Replies (1) of 78666
 
These media outlets have collaborated with the packagers and sellers of those papers to achieve the desired result. The packaged loans could not have been sold without that opinion from those rating agencies. If gross negligence or even collaboration for fraud can be proven then I think a fraud case could be made. Even if the outcome of a fraud case would negative, it would be helpful to show in much detail how the sausage was made. Court cases are good for that. That could lead to either nobody wanting those sort of sausages any more or better sausages in the future.

I had the same hope after the Y2002/2003 Enron/Worldcom disasters where rating agencies played a role as well. Obviously more head on sticks are needed.
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