Hat tip Mike R

Category: Analysts, Credit, Humor

Please use the comments to demonstrate your own ignorance, unfamiliarity with empirical data and lack of respect for scientific knowledge. Be sure to create straw men and argue against things I have neither said nor implied. If you could repeat previously discredited memes or steer the conversation into irrelevant, off topic discussions, it would be appreciated. Lastly, kindly forgo all civility in your discourse . . . you are, after all, anonymous.

10 Responses to “Two Headed Monster”

  1. martin66 says:

    The problem is obvious. Sovereigns have not learned to pay for their ratings

  2. peter north says:

    Ha! Love it.

    I don’t hate the rating agencies because S&P downgraded US debt. Reasonable people can disagree as to whether it was warranted or not. But I *do* hate them because they (1) aren’t subject to Reg FD – fuck that, (2) they suck at their jobs, and (3) they are the financial market equivalent of someone dressed as a nurse, walking around a battle field, stabbing the wounded. Very helpful.

    Why can’t we just use CDS spread data instead of ratings? It’s realtime, and it is based on people voting with real money.

  3. Petey Wheatstraw says:

    More evidence of government irresponsibility: They could never have downgraded the US if they had been shut down and their key personnel and corporate officers prosecuted under the RICO statutes and put in prison, where they belong.

    OTOH, if you look at the government’s economic douchebaggery (and the fact that the revolving door between government and the banks would also trip the government up, should they pursue a RICO case), the rating downgrade was probably well deserved.

    F them all.

  4. rob says:

    There’s a new Standard & it’s Poor

  5. carleric says:

    I saw Jim Chanos a day or so ago and he says CDS spreads are a far better inidicator of creditworthiness than the rating agencies. I find myself in total agreement. But Standard and Poor’s did what someone needed to do to wake up some folks.

  6. louiswi says:

    When it is said the “government gave the banks $700 billion”, would that be the Bush/Paulson kind of guvment or the current one? It seems there is a tad bit of difference.

  7. Seaton says:

    I do enjoy humor…just wish it wasn’t at the expense of little me’s retirement, nor the American Public at large. So many having such lucrative fun misleading people. @Rob….bingo!

  8. [...] Barry Ritholtz   Source Like this:LikeBe the first to like this [...]