Colonel Angus
Well-known member
- Joined
- Apr 24, 2011
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Funny how there is no mention of the rating agencies in all of this (mostly inaccurate) finger pointing.
Moody's, S&P's, and Fitch rated many of these shit ABS's comprised of the toxic mortgages at "AAA" which allowed the banks to hold less capital on the balance sheet and permitted many institutional investors to buy these securities because they were perceived to be riskless.
Moody's, S&P's, and Fitch rated many of these shit ABS's comprised of the toxic mortgages at "AAA" which allowed the banks to hold less capital on the balance sheet and permitted many institutional investors to buy these securities because they were perceived to be riskless.