SEC reviewing S&P handling on downgrade

[schizo]

Quote from SCI new york:

ratings agencies are paid to do a job. the problem isnt asking them to do it, the problem is they don't know what they're doing. they see themselves as the defacto authority so they slap a rating on whatever they want where they see fit. their accounting skills obviously do not accomodate the power they hold over markets.

paying your accountant to do your taxes and they tell you what you owe is normal. paying your accountant to do your taxes and he pockets the fees and makes up a number off the top of his head is not doing his job. and they are out there.

LOL. S&P is an audit firm, you dope. Their job is supposed to fact-check what you cooked up with your accountant and not the other way around...and then give you a rating.

 

[schizo]

Anyway, back to the OP's post. Why is it okay for the American companies to rate the entire world but it's not to rate it's own? If this ain't no double-standard, I wonder what is. No fucking wonder everyone hates us.

 

[bone]

Just like the SEC reviewed the Madoff case when it was handed to them multiple times on a silver platter with the proofs already completed - i.e., Harry Markopolos.

 

[SCI new york]

Quote from schizo:

LOL. S&P is an audit firm, you dope. Their job is supposed to fact-check what you cooked up with your accountant and not the other way around...and then give you a rating.

their fact-checking skills are worse than your trading skills. They made a 2 trillion dollar mistake and admitted it. so you are the dope.