It’s time to look to the future

Going forward, we have two choices. We can look at the problems that surfaced with regard to how multi-obligor bonds were rated and take steps to correct those problems.

Or we can dwell on the past, point fingers and otherwise self-destruct. Assigning blame is never a constructive enterprise and the last thing we need is more distraction from the staggering task at hand. And truth be told, we probably all have some degree of culpability.

By not assigning blame we are not allowing anyone to “get away” with something. Rather, by sharing blame we can quickly start to move in a constructive direction to ensure that problems such as those that occurred with multi-obligor bonds can never happen again.