Monday, 30 November 2009

They are not qualified to rate my farts.

Unfit for purpose.


Connecticut plans to join Ohio in suing credit-rating companies for “negligent, reckless and incompetent work” in grading debt purchased by state pension funds, according to Attorney General Richard Blumenthal. Connecticut and “a number of other states” are preparing legal action against Standard & Poor’s, Moody’s Corp. and Fitch Ratings, Blumenthal said today in a Bloomberg Television interview. Ohio Attorney General Richard Cordray sued the debt raters this month on behalf of five Ohio public employee retirement funds, saying “improper” ratings cost the funds more than $457 million. The state actions come amid criticism of the ratings services by investors and lawmakers including Senate Banking Committee Chairman Christopher Dodd, who has said the companies wrongly assigned top credit rankings to U.S. subprime-mortgage bonds just before that market collapsed in 2007.”


Unfit for purpose.


Time to audit the Bank of England by those who are fit for purpose.


Ignore the Fed, it is a shell game.


Why do you think the BoE is built to withstand siege?


Audit the BoE.


Then destroy the cabalistic crime scene.


The greatest favour Al doesn’t exist Gorequaeda could do is to let of a Big One whilst they are at their desks meeting targets.


Fukkwitz Ahoy!!!!!