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Taibbi Reveals Smoking Gun at Moodys and S&P

by bill - 2013-06-21 - ( culture / writing / blog )

Taibbi reveals smoking gun at moody's and s&p

"Lord help our fing scam?.?.?.?this has to be the stupidest place I have worked at," writes one Standard & Poor's executive. "As you know, I had difficulties explaining 'HOW' we got to those numbers since there is no science behind it," confesses a high-ranking S&P analyst. "If we are just going to make it up in order to rate deals, then quants [quantitative analysts] are of precious little value," complains another senior S&P man. "Let's hope we are all wealthy and retired by the time this house of card[s] falters," ruminates one more."
Matt Taibbi of Rolling Stone magazine

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