Monday, November 3, 2008

31 More Years?-3

"Conflicts of interest were largely responsible for the disastrous performance of credit rating agencies in assessing risks of mortgage-backed securities, two former high-ranking officials at Moody's Investors Service and Standard & Poor's said Wednesday in Congressional testimony" Gretchen Morgenson at, 23 October 2008.

Congress will have as much success at cleaning up the ratings agency mess as it has had the large CPA firms, none.

1 comment:

Anonymous said...

Gretchen is one of my favorite business vigilantes.

She rakes corrupt biz folks over the coals.

True Fourth Estate.