Waterboarding and Financial Ratings
Ok, just one more, um, comment on Moody’s proposed changes in its rating system for all those subprime loans and other securities. As you might recall, Moody’s has come under criticism for giving high ratings to pools of subprime loans that went bad. If you thought the post I mentioned earlier today from monkeybusinessblog.com on this subject was colorful, you’ll be interested in this. I believe it also marks the first time waterboarding has been suggested in accordance with a financial systems rating agency.
