More From Matt Taibbi On S & P Story in Rolling Stone

[Left Coast2020]

"The Last Mystery of the Financial Crisis" makes great use of documents uncovered in years of painstaking research by attorneys at Robbins Geller Rudman & Dowd, a San Diego-based firm that was at the forefront of major lawsuits against the industry. The material those lawyers found leaves virtually no doubt that the great ratings agencies like Moody's and S&P essentially put their analysis up for sale in the years leading up to the crash.

I picked some of the more damaging of these documents to ask about. Like for instance, an email from a company executive reading, "Lord help our fucking scam. . . . This has to be the stupidest place I have worked at."

Out of context, they said.


http://readersupportednews.org/opinion2/279-82/18054-focus-qyou-fd-up-you-trusted-usq

[Electric Monk]

1. I forget, have we thrown Taibbi under the bus yet?

“Being in a minority, even in a minority of one, did not make you mad. There was truth and there was untruth, and if you clung to the truth even against the whole world, you were not mad." ― George Orwell, 1984

[yodermon]

2. Taibbi-bashers usually show up on cue. n/t

[Downwinder]

3. Would Countries that have had their borrowing rates

increased because of rating downgrades by S&P have a basis for a suit against their lenders because S&P says their ratings are not meaningful?