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To: reaper who wrote (61575)	12/16/2002 10:39:07 PM
From: Perspective	Read Replies (1) \| Respond to of 209892

<IF the regulators / S&P did in fact see a problem with MBI, i really don't think they can call them on it without their call becoming a self-fullfilling prophesy (i.e. the day MBI gets downgraded the whole thing comes unwound). so the regulators / rating agencies will LAG, not LEAD. frankly, better to be blamed for MISSING a problem than to be blamed for CAUSING it.> Well, that's a comforting thought. <ng> We were asleep at the switch as it happened, and now we don't want to be blamed for causing a collapse so we'll just keep endorsing it. Sad but probably correct. BC