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CREDIT-RATING ANALYSTS CREATED SUBPRIME MESS (saw housing collapse coming four years ago)
NY POST ^ | 10/23/08 | PAUL THARP

Posted on 10/23/2008 9:06:23 AM PDT by Liz

Credit-rating analysts saw the housing collapse coming four years ago due to their "house of cards" game - but did nothing because of huge profit windfalls. A House panel probing the loose ways of credit-rating agencies that issued seals of approval on junk securities........introduced damning e-mails, cited in a bombshell July SEC report. "Let's hope we are all wealthy and retired by the time this house of cards falters," said one Standard & Poor's employee, one of the top credit-ratings agencies at the center of junk mortgage paper. Another e-mail said rating firms created a "monster."

(Excerpt) Read more at nypost.com ...


TOPICS: Business/Economy; Extended News; Government; Politics/Elections
KEYWORDS: bailout; economy; financialcrisis; mortgages; subprimelending
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To: Liz; PhilDragoo; devolve; y'all
Bwaney Fwank wuz too bizzy bein' Bwaney Fwank, I spose. ...

:)


21 posted on 10/23/2008 10:43:54 PM PDT by MeekOneGOP (Obama, WHO is Bill Ayers and WHY are you still friends with him? Please RSVP asap!)
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To: MeekOneGOP

"Mmmmmm.....Okay Bwaney. Your warm hand got my vote."

22 posted on 10/24/2008 5:25:26 AM PDT by Liz (Q. How long does a US Congressman serve? A. Until he gets caught. Carnac (Johnny Carson))
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To: Liz

LOL!

Gotta head out for work now.

“Work” ... my Dad calls that a four letter word. :)


23 posted on 10/24/2008 7:43:14 AM PDT by MeekOneGOP (Obama, WHO is Bill Ayers and WHY are you still friends with him? Please RSVP asap!)
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