Thursday, October 23, 2008

THE CORRUPTION AT THE RATINGS AGENCIES STARTED EARLY ON

This is an excerpt from the E-mail from Frank Raiter to Richard Gugliada et. al, March 20, 2001. In it, Gugliada explicitly tells Raiter that he won't get the information about the underlying loans that he requested but he will have to come up with a credit rating for the security anyway!

(Click on image for larger version)



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