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Strategies & Market Trends : Value Investing

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To: Dale Baker who wrote (34152)4/12/2009 5:32:21 PM
From: Madharry  Read Replies (1) of 78673
 
no disrespect intended but if they are legally classified as media outlets, could legal documents tying collateral, interest rates, and debt repayment schedules to ratings by media outlets be legal enforced? I can tell you the money center bank that employed me for seven years treated the rating agencies as god like figures. We were told that we were not to review AAA rated credits, as by definition there was no chance of default. of course this was in the 90s and before the days of loan slicing and dicing.
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