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"Not our fault. It's simply the way the world works."

submitted by notarobot

5 years 7 months 2 weeks ago

"If we don't work with them they will go to our competitors."

The Big Short explains rating agencies.

4 Comments

Hope for the best and plan for the worse. The economy, markets and financial institutions have surpassed all expectations I could have hoped for this year. May 2019 be as generous. If not, well there is always that plan.

00Scud00 says...

Oh, many institutions were talking up shit stocks as the best and then quietly betting against them. In this case the worst was the best thing that could happen to them, that was the PLAN!

Hope for the best and plan for the worse. The economy, markets and financial institutions have surpassed all expectations I could have hoped for this year. May 2019 be as generous. If not, well there is always that plan.

They were creating the shit stocks. They hid bad loans in packages of good loans, then sold the package to someone who repeated the process.

Oh, many institutions were talking up shit stocks as the best and then quietly betting against them. In this case the worst was the best thing that could happen to them, that was the PLAN!

StukaFox says...

This movie needs to be required viewing in schools.

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