That’s what great about this country. Never having to say you made a mistake, etc. If FDIC insured account is AAA, then how could CDO be rated AAA?
But I guess that’s why Piggs could never work for ratings agencies.
best comment at BP:
“Was it just me, or did Dhru (S&P head) seem to want to say, “look, our role and what we got paid for, was to tell people what they wanted to hear!”
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