Eugene David
...The One-Minute Pundit

Wednesday, October 22, 2008


A Standard & Poor’s spokesman said lawmakers exaggerated the percentage of mortgage-backed securities that had to be downgraded and noted that none of the $855 billion worth of AAA subprime mortgage-backed securities that it graded over 2005-2007 had gone into default.

Well! That makes me hap-PY!

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