Credit Crisis: Where Was the SEC?
Forbes February 6, 2008
by Liz Moyer

(Forbes.com) --"Many credible people were public about their dissatisfaction with the mortgage loan market," says Janet Tavakoli, a structured finance expert with her own Chicago consulting firm.

She blames the ratings agencies for flawed ratings methodologies [JT Note: My position is that the lion's share of the blame belongs to the investment bank/underwriters that financed shaky mortgage lenders originating unprecedented risky mortgage loan products in huge volume]. The Fed and the SEC, among other regulators, are just packs of economists and lawyers.

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