Ratings Agencies Role in Mortgage Crisis
Dec 7, 2008 | 03:42 PM
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Ratings Agencies Role in Mortgage Crisis
For those of you who would like to understand a little more about the mortgage crisis and how it has messed up our whole economy, here is a NYT article describing ratings agencies' role in the whole affair:
http://www.nytimes.com/2008/12/07/bu...pagewanted=all
http://www.nytimes.com/2008/12/07/bu...pagewanted=all
Dec 7, 2008 | 04:43 PM
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More Information...Lobbying and Dugout Seats by Freddie Mac
When the Washington Nationals played their first-ever baseball game in the nation's capital in April 2005, two congressmen who oversaw mortgage giant Freddie Mac had choice seats — courtesy of the very company they were supposed to be keeping an eye on.
Reps. Bob Ney, R-Ohio, and Paul Kanjorski, D-Pa., spent the evening in hard-to-obtain seats near the Nationals dugout with Freddie Mac executive Hollis McLoughlin and four of Freddie Mac's in-house lobbyists.
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