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Moody's Settles

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Randolph Kinney

Elite Member
Joined
Apr 7, 2005
Professional Status
Retired Appraiser
State
North Carolina
I wonder how anyone that is an investor relies on a bond rating knowing that it is similar to an appraisal that was hitting the target for the mortgage?

The pressure never went away to hit the rating to sell the junk and likewise the pressure never went away for appraisers to hit the target.
 

Restrain

Elite Member
Joined
Jan 22, 2002
Professional Status
Certified General Appraiser
State
Florida
Remember that the Fed has an incestious relationship with banks, rating organizations. Slap on the wrist and a warning to the Fed members that if they hit too hard, they won't be eligible for lucrative jobs upon leaving the Fed,
 

Jim Bartley

Senior Member
Joined
Jan 20, 2002
Professional Status
Certified Residential Appraiser
State
Virginia
"If we don't give them the ratings, they will go down the street"

 

AMF13

Elite Member
Joined
Jan 24, 2002
Professional Status
Certified Residential Appraiser
State
California
Couldn't let them go down the street. Better lie, make it a whopper. :fencing:
 
D

Deleted member 134708

Guest
And besides S&P, Moody's....maybe Fitch, where you gonna go to get your $10B product/offering rated? Boiler Room Inc,? Jim's Ratings Agency based out of India?

Definition of too big to fail. Gov. has no choice but to keep them going.
 
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