An interesting commentary from Bear Market Investment Blog: CT Attorney General: "It’s Time To Shatter The Old Boys Club Of Rating Agencies"

 

For the few sane people who have been watching and recoiling with horror as Bernanke, Geithner and Bair implement their insidious “rich get richer” PPIP/TALF plan by relying exclusively on the AAA ratings of the very same rating agencies that were the primary cause of the current economic catastrophe (yes Steve Liesman, not the CDS market or CDS traders - the rating agencies ) today was a glorious day. In what could potentially become yet another voice for rationality and for the common people,

CT Attorney General: "It’s Time To Shatter The Old Boys Club Of Rating Agencies"
Fri, 15 May 2009 02:22:42 GMT