Comments on: S&P: "We’d Do a Deal Structured by Cows" And Other Rating Agency Dirty Linen

By: Rating Agency Employee: I Hope I’m Rich and Retired Before the Crash | Jameson

Tue, 01 Sep 2009 16:12:51 +0000

[...] Via Naked Capitalism – Click here for full story [...]

By: Enrique

Enrique — Thu, 23 Oct 2008 15:01:00 +0000

NO NO NO NO NO

"...The story of the credit rating agencies is a story of colossal failure,''

"FAILURE" ?????
Fraud
Scam
swindle
counterfeit
stink
mockery
cheat

There are many words in the dictionary....why failure

By: Anonymous

Anonymous — Thu, 23 Oct 2008 12:44:00 +0000

I, for one welcome our now structured credit milking overlords.

(or: In Soviet Russia, cow milks YOU!)

By: Ginger Yellow

Ginger Yellow — Thu, 23 Oct 2008 10:31:00 +0000

These aren't new revelations, although the identity of the rating agencies and personnel is new. The SEC published the content of these communications in July, including the "rated by cows" comment.

By: Anonymous

Anonymous — Thu, 23 Oct 2008 04:57:00 +0000

This is the best animal picture this week in the whole universe.

http://www.telegraph.co.uk/news/picturegalleries/earth/3173441/Animal-pictures-of-the-week.html?image=19

By: qafirarnaut

qafirarnaut — Thu, 23 Oct 2008 04:53:00 +0000

Cant blame the rating agencies for the fact that regulators abdicated their responsibility in their favor. Heck! The SEC was so obtuse that it almost agreed to outlaw down-notching of previously unrated debt, just to do junior raters a favor.

There can be no doubt both sponsors and purchasers of CDOs knew full well what they were issuing and buying. Blaming the rating agencies would be like blaming rifle and not the one who shot you.

By: MLM

MLM — Thu, 23 Oct 2008 04:31:00 +0000

I’m trying to remember who set up this brilliant system of having the mice guard the cheese. Apparently there’s been gambling going on. I am shocked.

By: Anonymous

Anonymous — Thu, 23 Oct 2008 04:00:00 +0000

fresnodan,have you ever seen an old cow in an apple orchard in the fall? Or tried to lead her home after she ate 20 lbs of fermented apples?

By: Anonymous

Anonymous — Thu, 23 Oct 2008 03:59:00 +0000

When will people realize that “financial WMD” Buffet is also the biggest shareholder of the biggest rating agency ? If even he was looking the other way when rating agencies were collecting big fees for dummy rating, why expect the employees to be more honest ? Fishs always rots by the head first.

By: gc

gc — Thu, 23 Oct 2008 02:41:00 +0000

Look, these managers were watching the upper management of defense and security contractors being cheerleaded by our political leaders as they were enriching themselves carrying out the business of slaughtering innocent Iraqis and killing and maiming our brave soldiers....so if that was being looked on as acceptable behavior what harm could there be in enriching themselves via placing bogus ratings on mortgage bonds.

I hope none of this is actually surprising to anyone.

We are and will all be paying a very high price for the recent criminal and immoral leadership of our nation for a long time to come.