Letters to the Editor

S&P’s rating system questionable

Stephen Pucher asks a good question (“S&P missed loan fiasco“): “Where was the S&P…when the banks, financial institutions, mortgage agencies…(were) creating the 2008 mortgage fiasco and the genesis of the economic mess we are currently in?”

Here’s the answer: These “experts” were giving high ratings to those mortgage-backed securities that later became toxic junk. They did the same for Lehman Brothers just before they went belly up.

So tell me why these idiots have any credibility now?

Kathy Helmbock



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