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Understanding the current economy for Dummies
#74
just remember these are the same rating agencies that played a big role in the mortgage/sub prime debacle-Mortgage Backed Securities (MBS), Collateralized Debt Obligations (CDO), Hedge Funds and Credit Default Swap (CDS) were all given AAA status.

Maybe the lowering of the rating might be the shock needed in Washington

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Understanding the current economy for Dummies - by nky - 08-05-2011, 09:36 PM

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