She never begins an attack, nor, when once engaged, ever surrenders: She is therefore an emblem of magnanimity and true courage. ... she never wounds 'till she has generously given notice, even to her enemy, and cautioned him against the danger of treading on her.
-Benjamin Franklin


Wednesday, July 27, 2011

The Crystal Ball is a Bit Murky, Innit?

Jim points out the potential - shall we say - issues with credit rating agencies. As is frequent with Mr. Jim, his blog post finishes strong, with oak body and citrus overtones:

We don't t charge a dime for telling Washington it's operating like a Three Stooges movie policed by the Keystone Kops.


That statement is so full of a level of win - normally reserved for entire blog posts - that it is at risk of exploding from the pressure exerted by its awesomeness.



tweaker
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1 comments:

  1. Thanks, Speaker. I wish some financial editor would assign a good reporter to track the actual performance of financial instruments against the ratings assigned them by these guys.

    The agencies took a minor hit for touting the bum mortgage CDOs, but they're they're back to being worshipped now.

    ReplyDelete

Feel free to drop a line. You don't have to keep it clean - God knows, I won't - but keep it above the belt.

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