NYIF
February 2013
There has been tremendous schadenfreude by many journalists and market participants about recent lawsuits against Standard and Poor’s and Morgan Stanley. Allegedly, Standard and Poor’s kept doling out good ratings to Residential Mortgage Backed Securities (RMBSs) and Structured Finance Collateralized Debt Obligations (SFCDOs) issues even whilst rating analysts’ musings in colorful e-mails and even musical videos show that they knew that the collateral of these structured products was less than credit worthy. Read More