February 14, 2008

Response to a blogger about Moodys now coming out to downgrade mortgage security debt

Moodys is not a dog that's been let off its leash.

It is a mangy cur that has been hiding in the shadows because it has soiled the entire house. They have not been doing much of anything for as long as they can to avoid the scrutiny over why bundles of crap were given the highest bond ratings available. Especially Moodys, moreso than S&P, because they tout themselves as having a more holistic approach to their ratings methodology - encompassing macro and micro economic events, decision trees of probabilities and other academic exercises which all seem like so much hogwash now. Plain and simple - S&P and Moody's engaged in organized crime where they SOLD those high investment grade ratings to their friends, business acquaintances and cohorts in the investment banking industry . And along with selling those ratings, they sold the American economy and consumers down sh** creek with no paddle. And NOW they want to come out like a watch dog? You're about 4 years too late, chumps.

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