On Sat, 03 Jan 2015 11:40:26 -0600, F George McDuffee wrote:

[...]

IMNSHO it is unreasonable to expect the average, or indeed
professional, investor to conduct in-depth due dillagance on
every investment they make, to verify/validate the rating
organization valuations http://tinyurl.com/oxhw2ah. Indeed,
in many cases the securities broker/financial advisor was
the advisor who suggested an investment in ABS [asset backed
securities -- CDOs], CDS [credit default swaps] or interest
rate swaps, based on *THEIR* understanding AT THE TIME.

Which sort of begs the question, "Who will rate the ratings agencies?"

Is there some sort of qualifying exam for becoming a Recognized Ratings
Organization?

Jes' curious...


Frank McKenney
--
Where all are guilty, no one is; confessions of collective guilt are
the best possible safeguard against the discovery of culprits, and the
very magnitude of the crime the best excuse for doing nothing.
-- Hannah Arendt
--
Frank McKenney, McKenney Associates
Richmond, Virginia / (804) 320-4887
Munged E-mail: frank uscore mckenney aatt mindspring ddoott com