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http://us1.institutionalriskanalytic...ub/IRAMain.asp
they link to a "paper" I had not seen before
I had read elsewhere the rating agencies would use the "do your own due diligence" notices that they put out to hide from lawsuits. I had not heard about this:
The World’s Shortest Editorial”:
Why the First Amendment
Does Not Shield the Rating Agencies
From Liability for Over-Rating CDOs
http://www.graisellsworth.com/Rating_Agencies.pdf
I've heard of some stretches of the US constitution (I never thought anyone would get more ridiculous than Darl McBride's "GPL is barred by the constitution"), but there you go.
they link to a "paper" I had not seen before
I had read elsewhere the rating agencies would use the "do your own due diligence" notices that they put out to hide from lawsuits. I had not heard about this:
The World’s Shortest Editorial”:
Why the First Amendment
Does Not Shield the Rating Agencies
From Liability for Over-Rating CDOs
http://www.graisellsworth.com/Rating_Agencies.pdf
I've heard of some stretches of the US constitution (I never thought anyone would get more ridiculous than Darl McBride's "GPL is barred by the constitution"), but there you go.