I think that the agencies really went overboard here and really went off the deep end.
Preserving market share mattered, isn't that what he is saying, point blank?
It was resolved. Were the resources adequate?
And you continued to bring that up in 2007, is that correct?
And would you believe it should be considered differently?
I think the market coverage issue is the more important issue.
Our investigation has found that investment banks, such as Goldman Sachs, were not market makers helping clients.
Were you aware in 2004 to 2006 of the growing use of no doc and low doc loans?
There was a message from Ms. Warner in Exhibit 87 pleading for resources.
Was that one of the reasons that you didn't do that, Mr. McDaniel? When you didn't do that, was that shortage of resources?
The real problem is not that the market does underweights rating quality but rather that, in some sectors it actually penalizes quality by a...