Turkey of the Week - Moody's

Posted by: Bruce Lefavi in investment on Sep 23, 2009 Print PDF

I just read a disturbing article in the Wall Street Journal - LINK. An ex-Moody's employee says the firm continues to issue inflated ratings on complex debt securities. How much of this are we going to continue to take? I don't want to go through another financial meltdown. I've given my opinion on these types of complex securities and to sum it up in short, they are bad. They are financial weapons of mass destruction! Not only should they be banned, you have a supposedly impartial firm accused of telling you that they are great, when they know them to be less. What is it going to take for our government to finally wake up?

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