Stacy Summary: All roads of fear lead to profiteers.
The article was by Peter Koeing, 18 Oct 2008.
CDS contracts were originated in both London [i]and[/i] New York, mainly produced by US financial corporations, like AIG-FP, but also by UK and European institutions.
I’m not concerned about ‘nasty blue fairies’, I was raising a point about the the ‘ratholes’ being present in both Wall St and the City.
Standard & Poors, Fitch, and Moody’s are all rating agencies, not regulators.
We were talking about negligent regulation, that was the subject of the article you cited.
“Standard & Poors, Fitch, and Moody’s are all rating agencies, not regulators.”
I’m sorry, problem with semantics. The ratings agencies will be in a position of power designated by basel committee concerning Tier 1 CAR.
I’m not concerned about ‘nasty blue fairies’,
I would be, if I were you, HarryW. Never know when one might pop up on you, unexpected-like. Better to be ‘on your guard’.
my bad, pardon me
I linked Ambrose earlier and was mistaken.
Who blew the scientist up ?