You are correct and also wrong concurrently due to it being such a large organization with fingers in too many kitchens to be responsible.
They have done good work in certain fields and are not the only game in town. Are the other agencies any better? My experience is a big phat NOPE same porn-set-relationship-odor in the business for my taste. There are minors in munis that stick to being legit, but ratings are ephemeral the moment they're published anyway.
Funny you don't mention AIG and how nobody there went to jail. I even know of one guy who back-dated securities to help out a buddy. Using taxpayer money. The industry is rife for a 70% pay haircut so real people can do real work in the real world. Finance itself shouldn't be an industry, it's a service.
It's hard for me to take anything seriously which is why I prefer the barter system and being an outlaw from society and only dropping in when I need. All of this is a sad, broken joke with no viable paths upward. Not yet at least.
>Finance itself shouldn't be an industry, it's a service.
Two weeks ago people would have described SVIB just like this. Have a look at Twitter, people all over describing how they did things that no one else would do, the people's bank.
They have done good work in certain fields and are not the only game in town. Are the other agencies any better? My experience is a big phat NOPE same porn-set-relationship-odor in the business for my taste. There are minors in munis that stick to being legit, but ratings are ephemeral the moment they're published anyway.
Funny you don't mention AIG and how nobody there went to jail. I even know of one guy who back-dated securities to help out a buddy. Using taxpayer money. The industry is rife for a 70% pay haircut so real people can do real work in the real world. Finance itself shouldn't be an industry, it's a service.
It's hard for me to take anything seriously which is why I prefer the barter system and being an outlaw from society and only dropping in when I need. All of this is a sad, broken joke with no viable paths upward. Not yet at least.