MOODY'S PLACES ITSELF ON NEGATIVE WATCH
Washington - Moody's the ratings agency, has placed itself on negative watch, citing it's horrendous track record at rating just about everything except t-bills.
"We suck. We couldn't spot an investment-grade bond in a box of Confederacy Debentures or Continental Bank CD's." said one source at the agency...
Seriously, though, will the raters pay for their mistakes or were they cost-free? And wouldn't the latter be a "moral hazard"?
Posts
No comments:
Post a Comment