We all work for the IMF now. And if you haven’t realized that yet, I urge you to wake up to your new condition so you will not be caught unprepared. The sooner we all realize that, the smaller (hopefully!) the shock will be.
Credit Agencies: The arrogance of failure
First of all, the failure of the rating agencies before the subprime crisis is complete and total. That’s an undeniable fact and the huge effort that those agencies are making to restore their credibility will not, in any way, change that fact. And you should not listen to anyone who is telling you otherwise even if that person is Patrick Raleig.