Securities and Exchange Commission

S&P’s Rating Concerns: “Structured by Cows” 

In what shouldn’t come as news, but is just as telling nonetheless, analysts at Standard & Poor’s Ratings Services were apparently the most vocal of three major credit rating agencies in questioning their own RMBS ratings process, according to a story published by the Wall Street Journal this weekend. More than a few industry experts that HW has spoken with have pointed directly to the rating agencies as the catalyst for an industry that spun out of control.