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A comment on The End of the Financial World as We Know It.

Re:The End of the Financial World as We Know It by ashu on Sunday January 04, 2009 @02:13PM (#419390)
So, apparently (according to the article), the bond raters are paid by the bond issuers. How in the world is that not a conflict of interest? There must be some "pro" for the financial world being this way?
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Re:The End of the Financial World as We Know It by chubbard on Monday January 05, 2009 @05:27PM (#421238)
I completely agree. How can anyone look at this fact and not see it as totally undermining the intent of bond raters?
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Re:The End of the Financial World as We Know It by tphyahoo on Sunday January 04, 2009 @02:18PM (#419397)
The pro is, if you are an insider, your ass is subsidized by everyone else.

So, it is cost effective to lobby, bribe, and generally deal underhandedly to get that subsidy. Times like the recent bailout is when your investment in underhandedness pays back handsomely.

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