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Credit Rating Agencies Fending Off Lawsuits from Subprime Meltdown

National News • July 14, 2008
Battered by critics who blame them for helping to foment the U.S. subprime mortgage meltdown, credit raters are now trying to fend off lawsuits -- including fraud claims brought by their own ...

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Subject: And....

Posted On: July 19, 2008, 1:31 pm CDT
Posted By: Mary
Comment:
to add to what Dawn just said, there is evidence that the outcome of the ratings process did not reflect what the raters themselves really thought about the quality of debt they were rating. So the ratings companies cannot say they were just wrong about their rating.

Furthermore, if one were to actually delve into the details of the mortgages that were rated, I doubt very much that the result would be AAA. On the very face of it, a salary of $50k cannot reasonably make the payments on a $500k debt.
Subject Posted By Posted On
And.... Mary
Jul 19, 2008, 1:31 pm
RE: RE: Finally Dawn
Jul 15, 2008, 8:22 am
RE: Finally Nobody Important
Jul 14, 2008, 3:33 pm
Finally Hue Jass
Jul 14, 2008, 2:04 pm
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