September 27, 2010
– Comments (2)
Tell it like it is Barry...
BP has comments on evidence showing the degree of gross and willful malfeasance of Moody’s S&P’s and Fitch.
I think the rabid dog analogy for the rating agencies works well.
Yet nobody was put on trial for fraud and this agencies are still functioning. Andersen was compeltely destriyed just for the Enron fraud. But when it comes to financial institutions which defrauded a whole country no action is taken.
I don't think the rating agencies will really be called on the carpet until the US's AAA rating is finally called on the carpet, e.g. the US defaults on the bonds.