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Author: Subject: Rating Agency Disclaimers and Quotes

Maximum Peach





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  posted on 3/12/2009 at 09:12 AM
I love these. I was at a conference recently and one of the presenters displayed these quotes on a slide. You just have to scratch your head and laugh, because otherwise you would cry. Here they are for your pleasure:

"Any user of the information contained herein should not rely on any credit rating or other opinion contained herein in making any investment decision."

And another one displayed was this one from Noel Kirnon, Senior Managing Director at Moody's:

"What we're saying is that many people have the tendency to rely on it, and we want to make sure that they don't."

 
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Sublime Peach



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  posted on 3/12/2009 at 09:16 AM
quote:
"What we're saying is that many people have the tendency to rely on it, and we want to make sure that they don't."


??? LOL He may as well say that Moody's doesn't know a good rating from a bad. "well, this seems to be AAA, but it may be worth less than confederate money.."

Serious quetion....Who pays these people?

 

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Zen Peach



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  posted on 3/12/2009 at 09:26 AM
When I was working in the subprime abyss, one of my duties was to assist in preparing data for Moody's and S&P. One thing we thought funny is this illusion that they actually, like, go to the places they rate. No, you send out mounds of info and data and they go off that. Your rating is essentially as good as YOU say it is, not always what the ratings agency says it is...

 

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A Peach Supreme



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  posted on 3/12/2009 at 09:30 AM
It may be because we've become such a lawsuit-happy society that the presenters want to try to be sure nobody can nail them if things don't go right.

CYA!

Billastro

 

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Maximum Peach



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  posted on 3/12/2009 at 09:47 AM
That is crazy.

You guys would know better, but what kind of hit have these rating agencies' reputation taken, do people still respect their ratings?

 

Zen Peach



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  posted on 3/12/2009 at 10:07 AM
items in the mirror may be closer than they appear...

 

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Ultimate Peach



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  posted on 3/12/2009 at 10:17 AM
On to go coffee cups
"Caution, contents may be hot."

Really? Who knew?

 

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Maximum Peach



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  posted on 3/12/2009 at 03:34 PM
Another good question to ask yourself is: where do most young folks who work at ratings agencies end up wanting their careers to go....hmm....the investment banks? Perhaps some of the ratings may have a conflict of interest attached to them.
 

World Class Peach



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  posted on 3/12/2009 at 10:33 PM
quote:
quote:
It may be because we've become such a lawsuit-happy society that the presenters want to try to be sure nobody can nail them if things don't go right.

CYA!

Billastro



That was my thought.


Kinda like the sign one guy put on a ladder he had. "If you use this ladder and fall off, it's not my fault."

 

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Sublime Peach



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  posted on 3/13/2009 at 08:08 AM
quote:
Perhaps some of the ratings may have a conflict of interest attached to them.


Ya think? LOL.

It is a wonder they are still in business. Why does anyone take them seriously?

 

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