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Charmingly, it includes a quote from Moodys without mentioning that credit rating agencies (including, specifically, Moodys) were complicit in creating the sub-

by dsr_ 9y ago

Charmingly, it includes a quote from Moodys without mentioning that credit rating agencies (including, specifically, Moodys) were complicit in creating the sub-prime mortgage problem in the first place. Journalism should give insight, and a necessary part of this story is that major corporations were badly regulated and did what they will always tend to do: increase their profits without regard of external costs.

candiodari 9y ago
Of course, so do government departments. Hell, you literally see this in management "automating" something. They go and create some registration service, for, say, sending out packages between offices. After that is created, now everyone OUTSIDE of the shipping department has to fill out forms, instead of the shipping department itself having to fill that out. Same thing, much smaller change. Same for "self-service" account stuff for electricity.