Passing the Blame

November 23, 2009 by · Leave a Comment
Filed under: The Rating Agencies 

Ohio A.G. jumps on the bandwagon. This is called “assignation of blame.” This story isn’t complete. I want to know:

  • What they bought?
  • When did they buy it?
  • Who did they buy it from?                  

If they really were taken advantage of, did they:

  • Sue the broker?
  • Fire the portfolio manager?

These days, unfortunately, as populism rages, and risk is somebody else’s problem, this guy might win.

S&P, Moody’s and Fitch Are Sued by Ohio Over RatingsBloomberg.com, November 20, 2009

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