Structured By Cows
I thought cows just flew around in parachutes carrying signs that said ‘Eat Mor Chikin’, but apparently they also put together financing deals and asked the ratings agencies to rate them.
Have you seen some of the IMs floating around in the news today?
I guess I could act like I’m shocked, but I’m not – it’s not much different than the sort of garbage that came out after the dotcom bust. Everyone knew that these ratings agencies were part of the whole scheme, and this just proves it.
Barry’s got even more at TBP.
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