The Big Takeover

[aldante]

I think this is my favorite, Cassano speaking:

“it is hard for us, without being flippant, to even see a scenario within any kind of realm of reason that would see us losing $1 in any of those transactions.” As he spoke, his CDS portfolio was racking up $352 million in losses

[Diego Mamani]

From the RS article:

“They [Wall Street investment bankers] then convinced ratings agencies like Moody’s and S&P to give that top tranche the highest AAA rating — meaning it has close to zero credit risk.”

I think convinced is too lenient a word to use. IMO there was something criminal or near criminal in granting AAA rating to subprime mortgage-backed securities. There’s no way someone can “convince” me that a pool of junk mortgages can have AAA associated with it, no matter how you dice it, or how much you polish it.

The big issue here is that it was Wall Street paying the three rating agencies for their rating. Conflict of interest! Or, as humans learned thousands of years ago, you don’t put the fox in charge of the henhouse.

The clowns at S&P, Moody’s, and Fitch, should be personally prosecuted in civil and criminal courts. They were the crucial chain link in the whole scheme.

[Diego Mamani]

From the RS article:

“They [Wall Street investment bankers] then convinced ratings agencies like Moody’s and S&P to give that top tranche the highest AAA rating — meaning it has close to zero credit risk.”

I think convinced is too lenient a word to use. IMO there was something criminal or near criminal in granting AAA rating to subprime mortgage-backed securities. There’s no way someone can “convince” me that a pool of junk mortgages can have AAA associated with it, no matter how you dice it, or how much you polish it.

The big issue here is that it was Wall Street paying the three rating agencies for their rating. Conflict of interest! Or, as humans learned thousands of years ago, you don’t put the fox in charge of the henhouse.

The clowns at S&P, Moody’s, and Fitch, should be personally prosecuted in civil and criminal courts. They were the crucial chain link in the whole scheme.

[Diego Mamani]

From the RS article:

“They [Wall Street investment bankers] then convinced ratings agencies like Moody’s and S&P to give that top tranche the highest AAA rating — meaning it has close to zero credit risk.”

I think convinced is too lenient a word to use. IMO there was something criminal or near criminal in granting AAA rating to subprime mortgage-backed securities. There’s no way someone can “convince” me that a pool of junk mortgages can have AAA associated with it, no matter how you dice it, or how much you polish it.

The big issue here is that it was Wall Street paying the three rating agencies for their rating. Conflict of interest! Or, as humans learned thousands of years ago, you don’t put the fox in charge of the henhouse.

The clowns at S&P, Moody’s, and Fitch, should be personally prosecuted in civil and criminal courts. They were the crucial chain link in the whole scheme.

[Diego Mamani]

From the RS article:

“They [Wall Street investment bankers] then convinced ratings agencies like Moody’s and S&P to give that top tranche the highest AAA rating — meaning it has close to zero credit risk.”

I think convinced is too lenient a word to use. IMO there was something criminal or near criminal in granting AAA rating to subprime mortgage-backed securities. There’s no way someone can “convince” me that a pool of junk mortgages can have AAA associated with it, no matter how you dice it, or how much you polish it.

The big issue here is that it was Wall Street paying the three rating agencies for their rating. Conflict of interest! Or, as humans learned thousands of years ago, you don’t put the fox in charge of the henhouse.

The clowns at S&P, Moody’s, and Fitch, should be personally prosecuted in civil and criminal courts. They were the crucial chain link in the whole scheme.

[Diego Mamani]

From the RS article:

“They [Wall Street investment bankers] then convinced ratings agencies like Moody’s and S&P to give that top tranche the highest AAA rating — meaning it has close to zero credit risk.”

I think convinced is too lenient a word to use. IMO there was something criminal or near criminal in granting AAA rating to subprime mortgage-backed securities. There’s no way someone can “convince” me that a pool of junk mortgages can have AAA associated with it, no matter how you dice it, or how much you polish it.

The big issue here is that it was Wall Street paying the three rating agencies for their rating. Conflict of interest! Or, as humans learned thousands of years ago, you don’t put the fox in charge of the henhouse.

The clowns at S&P, Moody’s, and Fitch, should be personally prosecuted in civil and criminal courts. They were the crucial chain link in the whole scheme.

[Djshakes]

They better be scared!! AIG executives are nervous and scared for safety.

http://apnews.myway.com/article/20090320/D9720I901.html

I bet those cops wouldn’t patrol the area if they knew what these scum bags have done to the world economy. BURN THE HOUSES DOWN WITH THEM IN IT!

[Djshakes]

They better be scared!! AIG executives are nervous and scared for safety.

http://apnews.myway.com/article/20090320/D9720I901.html

I bet those cops wouldn’t patrol the area if they knew what these scum bags have done to the world economy. BURN THE HOUSES DOWN WITH THEM IN IT!

[Djshakes]

They better be scared!! AIG executives are nervous and scared for safety.

http://apnews.myway.com/article/20090320/D9720I901.html

I bet those cops wouldn’t patrol the area if they knew what these scum bags have done to the world economy. BURN THE HOUSES DOWN WITH THEM IN IT!

[Djshakes]

They better be scared!! AIG executives are nervous and scared for safety.

http://apnews.myway.com/article/20090320/D9720I901.html

I bet those cops wouldn’t patrol the area if they knew what these scum bags have done to the world economy. BURN THE HOUSES DOWN WITH THEM IN IT!

[Djshakes]

They better be scared!! AIG executives are nervous and scared for safety.

http://apnews.myway.com/article/20090320/D9720I901.html

I bet those cops wouldn’t patrol the area if they knew what these scum bags have done to the world economy. BURN THE HOUSES DOWN WITH THEM IN IT!

[jpinpb]

[quote=Djshakes] BURN THE HOUSES DOWN WITH THEM IN IT![/quote]

I like my idea better. Some kind of linching.

[jpinpb]

[quote=Djshakes] BURN THE HOUSES DOWN WITH THEM IN IT![/quote]

I like my idea better. Some kind of linching.

[jpinpb]

[quote=Djshakes] BURN THE HOUSES DOWN WITH THEM IN IT![/quote]

I like my idea better. Some kind of linching.

[jpinpb]

[quote=Djshakes] BURN THE HOUSES DOWN WITH THEM IN IT![/quote]

I like my idea better. Some kind of linching.

[Author]

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