Buy and Sell Signals, and Other Market Perspectives Message Board

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Strategies & Market Trends : Buy and Sell Signals, and Other Market Perspectives

SPY 685.40

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Jan 21 4:00 PM EST

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To: GROUND ZERO™ who wrote (3006)	4/27/2010 7:53:45 PM
From: not_prudent	2 Recommendations Read Replies (1) of 222193

Yoo forget their system was gamed, by the investment banks, even worse, CDS's (the little gems that insured all the crap being pumped out were pretty much invented by the same banks that gamed Moody's and S&P. Pretty much the number 1 seller of CDS's - AIG. You and I and every American now own them. These people took a hard look at the methodologies used by Moody's and S&P to rate a mortgage. When they found the weak links in their systems, it was easy to submit a bundle of mortgages and have come back triple A. Moody's and S&P were/are run by people who thought they're system worked like a champ. Their systems worked well for years and years. They never suspected that they would be dealing with crooks. IMO there's a big difference between stupid management and guilty management. As for those guys submitting those packages to be rated - they knew. Only their lawyers might believe they didn't.

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