HOW?! You may ask, did these companies get away with all of this incredibly illegal lending? Because these jerk credit rating agencies said it was ok
to do so.
In one document, an S&P employee in the structured finance division writes: “It could be structured by cows and we would rate it.” In another,
an employee asserts: “Rating agencies continue to create [an] even bigger monster — the CDO market. Let’s hope we are all wealthy and retired by
the time this house of cards falters.” {Emphasis added][See facsimile below]
Source
WHERE IS THE JUSTICE? Can we not put these a-holes away forever??
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just wait till this info filters into the market psychology....
a lot of people will 'wake up & smell the coffee'...and not trust the bailout schemes that are being applied.
they will finally understand that this 'house of cards' is just that..
a house of illusions, a house of falsified spreadsheets,
falsified financial statements, falsified 'everything'...
which motivates the banks to not lend to one-another
regardless of the promotions by the Fed/Treasury and liquidity injections Paid by us... the 'duped' taxpayers...
the insiders know the whole rotton system/structure does not need to be rescued...it needs to be revamped !
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This isn't looking good for anybody, just about two weeks ago they were saying up and coming markets would be a safe place for your money such as
South America and places like that, well the South American markets got slammed today.
If this is indeed an engineered financial crisis the whole thing just blew up in their faces.
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