May 7, 2013

Moody’s Playing Dangerous Games With Public Pension Funds

Moody’s Playing Dangerous Games With Public Pension Funds
"The bond-rating agency Moody's made itself famous for giving subprime mortgage backed securities triple-A ratings at the peak of the housing bubble. This made it easy for investment banks like Goldman Sachs and Morgan Stanley to sell these securities all around the world. And it allowed the housing bubble to grow ever bigger and more dangerous. And we know where that has left us.
Well, Moody's is back."