Ratings agencies are highly conflicted, unimaginative dupes. They are blissfully unaware of adverse selection and moral hazard. Investors should never trust them. — Seth Klarman Copy Share Image
“The alchemy that the ratings agencies performed was to spin uncertainty into what looked and felt like risk. They took highly novel… — Nate Silver Copy Share Image
“The alchemy that the ratings agencies performed was to spin uncertainty into what looked and felt like risk. They took highly novel… — Nate Silver Copy Share Image
“...the ratings agencies' problem was in being unable or uninterested in appreciating the distinction between risk and uncertainty.” — Nate Silver Copy Share Image
Ratings agencies are the glue that ostensibly holds the entire financial industry together. — Matt Taibbi Copy Share Image
