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Government to tear up half the constitution in public safety, after 2008 authorities went in other direction. if you can imagine a post 9/11 scenario with no metal detectors at airports, you get a rough idea of what was done to reform the ratings process. so there s been no reforms. no, it s exactly the same as it was before. it s the same model. when you re looking at financial products that have been rated, they have been rated by a ratings agency that got paid by the financial company that created that product. what changes that? legislation? senator franken has a bill that would create kind of a government agency that was a sign randomly. so you break the connection where you re paying the judge s salary? i think or just organically in the market there has to be created a new kind of company that s paid in some other way. by investors we should note in 2002-2007, the peak years of the boom, the fees for those ....
It hands over a bunch of money. what s remarkable is the e-mails show, and i did a the lot of reporting on the financial crisis. it s like people knew. that s what s so remarkable. people know it s a scam. people know it s going to blow up. people are not stupid. on the inside of it, everyone is operating with a wink and a nudge. what s amazing is the last sieve in this thing, which they released a week before they downgraded the entire sub prime market. they put out this bucket of sub prime and they give it a aaa rating and they know the whole thing is going to go bust, yet they are cheerleading for it as they are sending it out into the market. i want to read this quote. 2008 was to the american economy what 9/11 was to national security. yet while 9/11 prompted the u.s. government to tear up half the constitution in public safety, after 2008 authorities went in other direction. if you can imagine a post 9/11 scenario with no metal detectors at airports, you get a rough ....
Products. investors were paying for the ratings. now they have a new thing which they call the issues or pays model, which is what you described. it hands over a bunch of money. what s remarkable is the e-mails show, and i did a the lot of reporting on the financial crisis. it s like people knew. that s what s so remarkable. people know it s a scam. people know it s going to blow up. people are not stupid. on the inside of it, everyone is operating with a wink and a nudge. what s amazing is the last sieve in this thing, which they released a week before they downgraded the entire sub prime market. they put out this bucket of sub prime and they give it a aaa rating and they know the whole thing is going to go bust, yet they are cheerleading for it as they are sending it out into the market. i want to read this quote. 2008 was to the american economy what 9/11 was to national security. yet while 9/11 prompted the u.s. government to tear up half the constitution in public safety, ....