"Securities ratings raised doubts; Employee e-mails show concerns before collapse" by Bloomberg news | October 23, 2008
WASHINGTON - Employees at Moody's Investors Service and Standard & Poor's privately questioned the value of some mortgage-backed securities that were given creditworthy ratings, saying they created a "monster," according to e-mails released during a US House panel hearing yesterday.
"Let's hope we are all wealthy and retired by the time this house of cards falters," one e-mail from an S&P employee said. The message was among documents lawmakers made public yesterday as they criticized the role played by Moody's, S&P, and Fitch Ratings in the global credit freeze. --more--"
