"Asks Jim Chanos, the head of Kynikos Associates, which has a short position in Moody's stock: 'If the rating agencies will downgrade only when we can all see the losses, then why do we need the rating agencies'," Fortune, 3 September.
Precisely. It's like the Big 8 CPA firms and the S&L crisis of 1979-83. Where were they when we needed them? Answer: sue 'em all! Maybe that will make them consider whether or not whatever it is they opine on makes economic sense.
Precisely. It's like the Big 8 CPA firms and the S&L crisis of 1979-83. Where were they when we needed them? Answer: sue 'em all! Maybe that will make them consider whether or not whatever it is they opine on makes economic sense.
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