Rating Agencies Are On Top Of Things
S&P CUTS RATINGS ON 2 CDOS RELATED TO WB
MOODY’S TAKES ACTION ON CREDIT DERIVATIVE TRANSACTIONS WITH AIG EXPOSURE
S&P CUTS 448 RATINGS ON 58 US SUBPRIME RMBS DLS, AFFIRMS RATINGS ON 285
But it’s all ok, because….:
FED REPORTEDLY NOTES THAT MS IS CAPITALIZED ADEQUATELY
FITCH: US CAN MAINTAIN AAA SOVEREIGN RATING EVEN WITH THE IMPACT OF THE FINANCIAL MARKET RESCUE PLAN; US RATING IS SUPPORTED BY A DIVERSIFIED, HIGH-INCOME ECONOMY AS WELL AS USD’S STATUS AS A RESERVE CURRENCY
Too absurd for more words right now.
More on this topic
(What's this?)
ROSENBERG: THE MARKET LOOKS TOPPY
(THE PRAGMATIC CAPITALIST, 3/3/10)
The Dividend Stock Recovery: Get Ready for a High-Yield Bonanza
(Investment U, 2/22/10)
A Comprehensive Look At Investor Sentiment
(The Technical Take, 3/4/10)
Rating agencies, still living in the mark to myth concept.
My personal rating of the rating agencies?
Fradualent JUNK!
The rating agencies are the most important part of the crisis that needs reforming. Nobody knows which dice they throw, and yet, people’s pension funds or government activity is guided by them, often into oblivion. Has anyone counted the number of ratings which turned out to be wrong? Why does nobody revoke their licenses? As long as this foul apple is in the basket, the system wil fail and fail again.