Prosecutors ask if 8 banks duped rating agencies
http://www.nytimes.com/2010/05/13/business/13street.html?hp
With The New York Times doing the digging, more information comes to the surface about how the investment bankers and the credit rating agencies brought about the collapse of the mortgage-backed bond market.
Stay tuned.
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4 comments:
It's like you said - We're all marks.
Shouldn't the regulatory agencies be doing the digging???
Yes Lou, everyone is a mark. And, when you look around the table and you can't spot the mark, YOU are the mark!
No Winslow, that is above their pay grade! They would rather suck up to the big boys because they never know when they can turn their position into some real money.
I heard it was poor people, with their 1% of wealth, that cause the collapse.
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