Tuesday, July 3, 2012

More from the rotten state of finance

Morgan Stanley Got S&P to Inflate Ratings, Investors Say

Morgan Stanley (MS) successfully pushed Standard & Poor’s and Moody’s Investors Service Inc. to give unwarranted investment-grade ratings in 2006 to $23 billion worth of notes backed by subprime mortgages, investors claimed in a lawsuit, citing documents unsealed in federal court.
Comment: It's a dispicable behavior not only because of money but even more so that these guys are responsible for giving capitalism a bad name. If libertarians had execution squads these guys would make the list.

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