- #1
SW VandeCarr
- 2,199
- 81
Can someone please tell me why the heads of the big Wall Street bond rating agencies haven't been charged yet? I don't even know if they're being investigated. We hear a lot about AIG and the banks, but not a lot about outfits like Moody's. I've called news organizations and I don't get good answers. Moody's is probably more responsible for the current economic debacle than any other single company. They rated toxic securitized assets as AAA, the highest possible rating. They knew these packages of mortgage debt were poisoned by risky mortgages, but turned a blind eye because they could be sold to banks and investors for big profits. If this isn't fraud, I don't know what is.