Online:
Visits:
Stories:
Profile image
Story Views

Now:
Last Hour:
Last 24 Hours:
Total:

Pigs at the Trough: Rating Agencies as Corrupt as Ever

Monday, January 11, 2016 21:29
% of readers think this story is Fact. Add your two cents.

(Before It's News)

by Mike “Mish” Shedlock
MISH’S Global Economic Trend Analysis

B4INREMOTE-aHR0cDovLzMuYnAuYmxvZ3Nwb3QuY29tL19uU1RPLXZacFNnYy9TRmNxanlJaVI4SS9BQUFBQUFBQUN5SS95b2E1WjZzM0tGWS9zNDAwL21pc2hwaG90by5naWY=Pigs at the Trough

The big rating agencies are as corrupt as ever. But don’t blame them. That would be like blaming pigs for feeding at the trough.

Please consider the New York Times article Ratings Agencies Still Coming Up Short, Years After Crisis by Gretchen Morgenson.

The mistakes that led to the 2008 mortgage crisis can’t happen again, right?

Not so fast, particularly if you’re talking about credit ratings agencies like Moody’s Investors Service and Standard & Poor’s. Eight years after these companies were found to have put profits ahead of principle when they assigned high grades to low-quality debt securities, some of the same dubious practices continue to infect their operations.

Continue Reading at GlobalEconomicAnalysis.Blogspot.com…



Source: http://financialsurvivalnetwork.com/2016/01/pigs-at-the-trough-rating-agencies-as-corrupt-as-ever/?utm_source=rss&utm_medium=rss&utm_campaign=pigs-at-the-trough-rating-agencies-as-corrupt-as-ever

Report abuse

Comments

Your Comments
Question   Razz  Sad   Evil  Exclaim  Smile  Redface  Biggrin  Surprised  Eek   Confused   Cool  LOL   Mad   Twisted  Rolleyes   Wink  Idea  Arrow  Neutral  Cry   Mr. Green

Top Stories
Recent Stories

Register

Newsletter

Email this story
Email this story

If you really want to ban this commenter, please write down the reason:

If you really want to disable all recommended stories, click on OK button. After that, you will be redirect to your options page.