Community | October 22, 2008 | 1 comment

Of Credit Agencies, Cows and Memos - Oh My! - Seeking Alpha

source: http://seekingalpha.com/article/101148-of-credit-agencies-cows-and-memos-oh-my

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dankitti
In one document, an S&P employee in the structured finance division writes: “It could be structured by cows and we would rate it.” In another, an employee asserts: “Rating agencies continue to create [an] even bigger monster — the CDO market. Let’s hope we are all wealthy and retired by the time this house of cards falters.” {Emphasis added]

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