Jim Landers: Blame The Credit Rating Agencies

Posted on October 22nd, 2008 12:54am by Candy Evans
Filed under Changing market trends in Real Estate, Fannie Mae, Freddie Mac, Wall Street meltdown, credit crunch, foreclosure

Oh yes, oh yes! Standard and Poor’s and Moody’s hired financial engineers who cooked the computer assessment of securities and tweaked until they got the answers they liked, then gave them to the rating agencies for AAA ratings. Not only does this sound like Enron, it also reminds me of those studies the government pays millions of dollars to figure out something we all know, like how children get better grades when they do homework in a quiet room without the distraction of televison.

One Comment to “Jim Landers: Blame The Credit Rating Agencies”
  • Tony So @ October 22nd, 2008 at 9:00 pm

    government pays …to figure out we all know.
    That reminds me a joke I heard yesterday from radio, “when President said No child left behind in Education, he left no money behind to make it work”. :-))

    TonySo@magnum2000.com

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DallasDirt is a daily discussion and dissention of the Dallas-Fort Worth real estate market, led by D Home Real Estate Editor Mary Candace Evans with contributions from real estate experts and aficionados. Topics include house porn, hot neighborhoods, hot agents, hip pockets, celebrity listings, second homes, vacation homes, real estate trends, data analysis, tips for buying, selling, or staying put. If DallasDirt were a house, it'd be a three-bedroom, two-and-a-half-bath ranch transitional on a quarter acre lot with stainless kitchen and granite countertops: sophisticated with designer touches, room for expansion. Make an offer.
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