tag:blogger.com,1999:blog-2611021408437270881.post4782689051262477048..comments2024-03-18T23:59:39.885-07:00Comments on Skeptical CPA: Moody's ImageIndependent Accountanthttp://www.blogger.com/profile/07800220849565219709noreply@blogger.comBlogger2125tag:blogger.com,1999:blog-2611021408437270881.post-51947383472861543432008-05-25T14:20:00.000-07:002008-05-25T14:20:00.000-07:00BS:The rating agencies are just part of Wall Stree...BS:<BR/>The rating agencies are just part of Wall Street's marketing machine. If they want to restore credibility with me, let them forego any "First Amendment" immunity claims and let buyers of products they rated sue them for malpractice. Baring that, for my money, the rating agencies are just a lot of hot air. At least one can sue the Big 87654 firms from time-to-time.Independent Accountanthttps://www.blogger.com/profile/07800220849565219709noreply@blogger.comtag:blogger.com,1999:blog-2611021408437270881.post-24520964557138303452008-05-25T14:08:00.000-07:002008-05-25T14:08:00.000-07:00Big deal. I wouldn't put any credence in "self-imp...<I>Big deal. I wouldn't put any credence in "self-imposed reforms". </I><BR/><BR/>That's what I was thinking as I read the first paragraph. If companies want to pay Moody's to rate them that's fine by me, but I'll never trust another bond rating as long as I live. Some of the AAA stuff is going for 90%+ discounts, when they can get a bid at all. The long term implications of the loss of trust at the IBs and everywhere else has not been factored in, that is fatal for a confidence scheme.Anonymousnoreply@blogger.com