It should affect the analysis, as you indicate, but it did not affect the analysis here.
So, in this case, these ratings were downgraded within a year and are now below investment grade. These are junk.
When you were there, that is the way it was handled?
I was pretty amazed.
this is the fundamental conflict of interest that we need to do something about in the legislation.
And if they were being used to short the market, would that be saying something about the quality of the reference to th...
I am just asking a simple, straightforward question.
What is your reaction now that you read that, that something that would have been done otherwise could not be done becau...
Well, that is not the part of the testimony he finally acknowledged, which is they were short of resources and didn't ge...
Going back to this question of what happened late in 2007...
We saw the beginning of the assault in our first two hearings, which examined how U.S. financial institutions turned to ...
So, again, when they said in that email no special measures, there should have been special measures taken?
Let me just ask a couple questions quickly about synthetic CDOs.
So that it should affect it?
I think we got the answer that it ought to be a factor.
Pressure by the investment bankers on your analysts. Pressure applied by managers at Moody's to maintain market share.
So market share mattered, in a nutshell.
It was common knowledge that ratings shopping occurred in structured finance.
