David Einhorn On Rating Agencies 9.08.09

[MrSenorMorales]

makes me dizzy

[HillcrestCapital]

WTF IS WITH ALL THE DUMB COMMENTS IN THIS VIDEO?

[unconciousself]

Einhorn makes me hard...

[phigura153]

What will be the new money supply? Pills the masses

need to "stay alive"? Or 'Air Miles Card' points? Ever

see the movie, Absolon? Of particular concern for the

US, I think, is the disappearance of the manufacturing

sector. Also, growing trade defecits, which were not

much of a concern in the past, at least in the popular

press. A guy named Jaikaran wrote a book called,

Debt Virus. Anyway, "criminal securitization", unfortunately,

not a crime, it would seem.

[phigura153]

It would seem you have corrected me.

"The crooks"? I guess that is a moral statement,

rather than a statement of fact. For I do not think

writing derivative contracts is considered illegal

activity. A legal right is not the same concept as

a moral right. Legality and morality do not always

coincide. They certainly did not coincide in Nazi

Germany. Also, "the crooks" were not "taking their

cut" but "passing the hot potato" so as not to get

burned.

[phigura153]

Einhorn seems to want to convince others with his

words, his characterizations, his references to mysterious

emails, that these bad analysts thought like "capitalists"

who only cared about themselves. But what if the

analysts were Marxist-Leninists who wanted to destroy

the American capitalist system? To the judge I would

ask, what difference does it make how big Moody's

audience is? Did Einhorn go on TV and say, Eh,

real estate prices are INSANELY high. That would have

been a prediction.

[kirkydu]

Uhhh, yes, Einhorn DID go TV and say that real estate prices were insanely high AND he said the banking system would collapse due to the bad loans and what essentially was criminal securitization of those bad loans as all the crooks took their cut out.

[phigura153]

The destruction of investment banks in the US means

that there is now very little new debt left for Moody's to

rate. Fraud? Do people do what they do for money?

Is that why "they" blew up the World Trade Center?

For money? Stock brokers get paid commissions.

Do not analysts at Moody's get paid BY THE HOUR?

High fees? Analysts did not receive fees, but Moody's

did. And not "special high fees" either, just fees. Just

fire the bad analysts. That is in Moody's best interest.

[phigura153]

Moody's worries about REPUTATION, for their business

model depends upon it. Analysts at Moody's do not

worry about fees and marketshare, for they are taught and

know that Moody's would rather lose marketshare (business)

than be found wrong. Einhorn's comments about analysts

sound like comments about stock brokers in general who

care nothing about truth, honesty, and justice. Also, email

conversations can be forged. Maybe Einhorn does not

want to be investigated, himself?