http://www.bloomberg.com/apps/news?pid=20601087&sid=aKwp3vLz5mh0
The rating agencies....such as Moodys, Standard and Poors, Fitch etc.... are not above the law....
They are directly responsible for improperly labeling CCC paper as AAA paper....
There would not be a crisis today had the paper been rated CCC....as very few investors would have invested....
Justice in the US....Where ? When ?
.............................................................................
This is beyond pathetic....
..............................................................................
The US has a chance to take advantage of the current opportunity....to build "trust"....
1) By establishing and enhancing a new worldwide direct access securities exchange for all securities....
2) By requiring a boilerplate approach to reporting and factual information about the securities that are publicly traded....
3) To separate "management" from factual information....
Hedge funds, mutual funds should just trade as $10 stocks ....
The idea that the world's investors are just going to "get over" the greatest mis-labeling fraud of all time is rediculous....
The US needs to send a clear signal to the world that this problem has been "eliminated"....
The rating agencies....such as Moodys, Standard and Poors, Fitch etc.... are not above the law....
They are directly responsible for improperly labeling CCC paper as AAA paper....
There would not be a crisis today had the paper been rated CCC....as very few investors would have invested....
Justice in the US....Where ? When ?
.............................................................................
This is beyond pathetic....
..............................................................................
The US has a chance to take advantage of the current opportunity....to build "trust"....
1) By establishing and enhancing a new worldwide direct access securities exchange for all securities....
2) By requiring a boilerplate approach to reporting and factual information about the securities that are publicly traded....
3) To separate "management" from factual information....
Hedge funds, mutual funds should just trade as $10 stocks ....
The idea that the world's investors are just going to "get over" the greatest mis-labeling fraud of all time is rediculous....
The US needs to send a clear signal to the world that this problem has been "eliminated"....