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View Diary: BREAKING: Standard and Poor's GUILTY, “deceived” and “misled” Investors (91 comments)

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  •  They have a mandate from the SEC (4+ / 0-)

    to provide honest opinions. Anyone with a spreadsheet and access to $125 to buy some monte carlo simulation software could have seen that the CPDO was nothing more than a Martingale gambling strategy.

    To assign a AAA rating to such a strategy shows how low we had fallen during the Bush years.  The SEC should have stripped S&P of their authority to issue ratings at that  time.

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