Quote:
Originally Posted by JeremyD
Not just the volume of the CDS but also the rating of the paper. Really the folks that rated this paper as investment grade A-AAA should be brought up on fraud charges. There are many hands in the til.
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Given all the other variables and moving parts in the last 10 years that coalesced into worldwide recession, the one that truly made it happen was the ratings agencies. If the collateralized debt obligations and these derivatives had been rated accurately by the agencies entrusted, the bubble would have never grown as big as it did.