tag:blogger.com,1999:blog-4863014635257598503.post8676695915130802586..comments2024-02-27T22:18:53.706-05:00Comments on Zero Hedge: Moody's To Arbitrate When A Default Is Not A Default, Hedge Funds To SufferTyler Durdenhttp://www.blogger.com/profile/00165439451205639523noreply@blogger.comBlogger7125tag:blogger.com,1999:blog-4863014635257598503.post-27763887952896397262009-04-05T12:22:00.000-04:002009-04-05T12:22:00.000-04:00anybody really going to care what Moody's says on ...anybody really going to care what Moody's says on the issue?Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-4863014635257598503.post-75725154209091812432009-04-04T23:45:00.000-04:002009-04-04T23:45:00.000-04:00I'd like to second anon of 6:51pm and Francois' co...I'd like to second anon of 6:51pm and Francois' comments. Remind us again why Moody's, who once allowed the most worthless paper the distinction of AAA, is now the final arbiter of credit-worthiness? Seems like if it was in the interests of a corporate issuer to buy back its debt at distressed levels, and this advantage helped this business stay in business (and keep people employed), then it seems reasonable to allow the transaction without a downgrade? Am I missing something?<BR/><BR/>Keep up the good work Tyler. This is turning into a must-read for me (and others I'm sure) along the lines of Naked Capitalism, and Mish's blog. Thanks for the hard work.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-4863014635257598503.post-83769180827152647182009-04-04T20:41:00.000-04:002009-04-04T20:41:00.000-04:00Charles Calomiris is trying to use religion to sel...Charles Calomiris is trying to use religion to sell handouts to bankers and bondholders. He spoke at the NY Greek Orthodox Church and tries to dismiss rejection of such cronyism as "bitterness and jealousy". Calomiris has a worse political ear than Larry Summers, the alleged CDO salesman.<BR/><BR/>http://online.barrons.com/article/SB123879904948688175.html?ru=Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-4863014635257598503.post-46979129543773843232009-04-04T20:10:00.000-04:002009-04-04T20:10:00.000-04:00Given their abysmal track record as rating analyst...Given their abysmal track record as rating analysts, remind me again why is Moodys still in business?<BR/><BR/>Cui bono?Cetamuahttps://www.blogger.com/profile/10003386989005291824noreply@blogger.comtag:blogger.com,1999:blog-4863014635257598503.post-85520976239728250832009-04-04T18:51:00.000-04:002009-04-04T18:51:00.000-04:00thats a good idea. let Moodys, who cant decipher ...thats a good idea. let Moodys, who cant decipher a AAA piece of paper form a worthless piece of mortgage trash, make important decisions. brilliant.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-4863014635257598503.post-89404130772331712462009-04-04T18:41:00.000-04:002009-04-04T18:41:00.000-04:00Actually - just went to isda.org - they have the D...Actually - just went to isda.org - they have the Determinations Committee settled now...maybe worth some of your perfect and pithy sarcastic insight...LOL<BR/><BR/>http://www.isda.org/press/press033109cddc.html<BR/><BR/>(PIMCO, Primus, and L&G...hhmm)<BR/><BR/>and<BR/><BR/>http://www.isda.org/press/press040309.htmlAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-4863014635257598503.post-6650307702501086062009-04-04T18:36:00.000-04:002009-04-04T18:36:00.000-04:00On the bright side, it may give us some insight in...On the bright side, it may give us some insight into the 'thought process' by which ISDA's new 'Determinations Committee' will decide CDS credit events on 'distressed exchanges' - and potentially narrow the basis (in certain names) in distressed land?Anonymousnoreply@blogger.com