Why am I not surprised, if Mr Zandi would be surprised if there's any thing more than a few weeks delay or a couple two three month "paperwork" delay. "I guess we're gonna have to wait and find out how courts interpret challenges to mortgage foreclosure process." paraphrased.
What about seriously commenting on how it may affect YOUR job (Moodys' unique protected, enshrined FUNCTION in the financial system)
HOW ABOUT MOODYS should be looking at HOW the ratings on certain MBS and related derivatives, counter parties thereto and HOLDERS (including the Fed) will be affected IF certain challenges hold up?
Then what?
Maybe a certain triple AAA rated, risk free, benchmark paper will be like Jethro Tull's "Living in the past"; indeed a relic of the past. Given certain unnecessary arrogance, hubris but intentional lack of transparency - it's as it should be.
Mr Zandi appeared on Bloomberg TV with Eric Schatzker earlier today Link here http://www.bloomberg.com/video/63458972/
Ending the siesta on the taxpayers' dime one easy to read blog at a time.
NOT MY FIRST RODEO.
Since 2004, my office issued annual, 1 page FiduciaryALERTS™.
It’s not about me being right or lucky because I’m half Irish it's about this - recognizing the obvious. For instance, July 2008's “Denial of Twin-flation™ is not a prudent investment strategy” Copies available.
Chris aka McFid, since 2003, BFD expert.
(BFD means breach of fiduciary duty)
Copyright © Chris McConnell & Associates 2003 to 2010 All rights reserved
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