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Feel like being frightened?

Discussion in 'Off Topic' started by Mark Laszczuk, 22nd Jan, 2009.

  1. Mark Laszczuk

    Mark Laszczuk Well-Known Member

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  2. Mark Laszczuk

    Mark Laszczuk Well-Known Member

    Joined:
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    Location:
    Brisbane
  3. Chomp

    Chomp Well-Known Member

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  4. AsxBroker

    AsxBroker Well-Known Member

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    Was the start of a mess...
     
  5. Mark Laszczuk

    Mark Laszczuk Well-Known Member

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    I remember going to a presentation - this was a few years ago, before all this crap got sucked down the plughole - and the guy was talking about the ratings agencies rating this stuff AAA and I sat there thinking 'How the hell can they get away with that?'

    Money talks, bullsh.t walks.

    Mark
     
  6. AsxBroker

    AsxBroker Well-Known Member

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    Yeah I agree.
    I think securitisation is fine, but when something graded Ccc is repackaged AAA there is going to be problems. Same as shares and other securities.