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Have executives at Moody’s gone to jail yet for destroying our economy by colluding with investment banks in rating junk MBS as AAA?
by user3939382 4y ago
Have executives at Moody’s gone to jail yet for destroying our economy by colluding with investment banks in rating junk MBS as AAA?
- 6stringmerc 4y agoI for one am glad the US banking system roped in the Germans and brought the entire global system down too just so we didn't have to eat our own shit alone.
- itsoktocry 4y ago>Have executives at Moody’s gone to jail yet Per Hanlon, you're mistaking stupidity for malice. It's hard to prove Moody's knowingly rated "junk" as AAA, versus not knowing how to rate the instruments at all.
- mrguyorama 4y agoWhen it's your literal job to not be ignorant, ignorance IS malice.
- jjeaff 4y agoSeems like it wouldn't be that hard to prove malice considering several people, with data, were sounding the alarm to the rating agencies.
- e_i_pi_2 4y agoYou don't need malice to go to jail - ignorance is more than enough, especially if it's in a financial/legal/medical context
- thedougd 4y agoIf I killed someone while performing heart surgery on them, claiming I didn’t know how to perform heart surgery would hardly be an effective defense.