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.
Recent Posts:
- Taxpayers to the Rescue of Afghanistan Banking Crisis?
- Economic Data and Earnings Schedule for September 2 2010
- Christina Romer Makes a Final Recommendation Before Leaving To Teach Keynesian Economics
- Homebuilder Hovnanian (HOV) Reports Dismal Quarter
- Auto Sales Data for August 2010
- Stock Market Rewind – September 1, 2010
More on this topic
(What's this?)
Gerald Celente: US oligopoly is a big lie
(Investment Postcards from Cape Town, 8/10/10)
NYT Muffs Merrill/Magnetar Piece (Corrected and Updated)
(naked capitalism, 8/10/10)
Should We Buy Fed’s Reports of Gains on AIG Bailout Vehicles?
(naked capitalism, 7/30/10)
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.