CPDOs Expose Ratings Flaw at Moody's

Financial Times - May 20, 2008

By Sam Jones, Gillian Tett and Paul J Davies

Plenty of people thought these products sounded too good to be true.

"Once again, the rating agencies have proved that when it comes to some structured credit products, a rating is meaningless," Janet Tavakoli, an independent consultant, told the FT in November 2006. "All AAAs are not created equal, and this is a prime example."


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