From the Huffington Post: How Moody's Sold Its Ratings - And Sold Out Investors
Politicians generally cannot be trusted. They'll say and do about anything to achieve an end.
Apparently, this extends to matter of money too, and where's the surprise in that?
Moody's dumped the truth tellers and retained those who told a more convenient story. We've seen it a thousand times.
The difference here is that Moody was a trusted agent. Other agencies used Moody's ratings for investment strategies, and now there's the expected trouble.
I could just spit.
-- Posted from a mobile device