Is a triple-A a triple-A a triple-A?

June 9, 2008

   Credit ratings agencies have been under fire from investors for giving the highest ratings for what turned out to be risky assets.
    But Standard & Poor’s President Deven Sharma told the Reuters Investment Outlook Summit investors just didn’t really understand what a triple-A rating meant.
    “It’s a question a lot of people ask: Is a triple-A a triple-A a triple-A?” Sharma said. “We reflected on it and recognised one of the things we didn’t explain to investors as much as we should have done is what comparability of ratings really  means.”
    To listen to what he had to say, please click here

One comment

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What a con job. Sharma is backpedaling as fast as he can in front of the coming legal and regulatory problems caused by his company shilling for banks to ease the selling of unsalable merchandise like bad liar loans. A liar Triple A rating for a liar loan. Seems fair to me.

I’ll take a dozen and ship some to Norway so they can get a taste of the action. Wouldn’t want anyone to miss out on a Triple A deal.

Don’t need any regulation here. Just look the other way and let us do business.

Posted by Bob | Report as abusive