Welcome to European Tribune. It's gone a bit quiet around here these days, but it's still going.
That is the problem. The credit rating agencies realise this and decide that breaking the rating system is a lesser evil compared to the adjustment that would occur were they to doengrade all these bonds.

To be honest, I hope the SEC takes notice of what the Bloomberg piece is saying, and investigates S&P and Moody's for "alleged distortion of the credit market".

Can the last politician to go out the revolving door please turn the lights off?

by Carrie (migeru at eurotrib dot com) on Wed Jul 4th, 2007 at 09:27:34 AM EST
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