2010-08-14marketskeptics.com

``Up until 1994, Rating agencies were extremely conservative in their estimates. However, RTC and FDIC, in an effort to sell billions in toxic mortgage-backed securities, devised their own overly optimistic method estimating defaults. Inaccurate rating models came straight from the federal government, and rating agencies adopted them because they didn’t have a choice.''



Comments: Be the first to add a comment

add a comment | go to forum thread