I think this business insider article by Henry Blodget is a genuine must read
Sad to say (pathetic really) something was news to me
“Moody’s …. since going public in 2000.”
I didn’t know ( I have stressed my ignorance many times here but I had no idea how much ignorance I had to stress).
It sure didn’t take long.
Also how long did the longest lived publicly traded investment bank in the USA survive as an investment bank ? Did any make it over age 18 ?
Since some time in the mid 70s I had been very puzzled as to how private unregulated firms with such power could remain uncorrupt (in 2008 I started wondering how they had remained uncorrupt for so long).
“We told you so” — Bearle and Means.
update: at least I’m not naive enough to be surprised by this
MCO 27.04 -0.89 -3.19%