Credit Ratings Agencies Hearings
Submitted by Todd Sullivan on Thu, 10/23/2008 - 16:50.
This is a must watch. It is amazing to watch the heads of Fitch, Moody's Corporation (NYSE:MCO) and S&P sit there and lie through their teeth. Even the Congressmen are having a tough time not just coming out and calling them liars.
Part 1
Part. 2
The line of the day was an email in S&P in which said "a cow could underwrite it and we would rate it". Does anyone have anymore questions as to how we got into the mess we are in today? Anyone?
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