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Liars Bond Ratings

…they worked according to rules which made it possible for financial innovators to game the ratings. I was wrong. Getting toxic sludge rated AAA was like stealing candy from a…

What is the point of credit default insurance ?

…to make senior (AAA) tranches and equity tranches. Was there really any more diversification to be done ? Or was this a way to game the bond ratings ? If…

The contrarian addiction

…protects the public from food-borne illnesses. It issues nutritional advice and drug labeling guidelines. It polices false medical claims on packaging and in advertisements. It safeguards about one in every…