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 ...
Bwaney Fwank wuz too bizzy bein' Bwaney Fwank, I spose. ...
:)
"Mmmmmm.....Okay Bwaney. Your warm hand got my vote."
LOL!
Gotta head out for work now.
“Work” ... my Dad calls that a four letter word. :)
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