Saturday, August 6, 2011

Who Cares What Standard and Poor's Thinks?

One of the most disturbing aspects of the financial crisis is that so many people who couldn't get a job writing the daily horoscopes still have their financial forecasts taken seriously.


  1. The same idiots told us the credit default swaps were AAA.

  2. To be precise, they told us that the mortgage backed securities were AAA and that the firms like AIG that wrote the credit default swaps on the mortgage backed securities were AAA.