Tuesday, September 4, 2007

And you thought AAA was just the next widening of the GCSE Grade Scale

'No Sub Prime Worries' Says A+L

"A&L said 99% of this had been rated AAA by investment ratings agencies, so the money was very likely to be repaid." Well, there goes 1% of the $$$ before we even look at the triple-As...

Posted by albertini albertino @ 01:20 PM (367 views)
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One thought on “And you thought AAA was just the next widening of the GCSE Grade Scale

  • That’s the same ratings agencies that are to be investigated by the US authorities (too late) then is it? The ones who rated all the CDOs as AAA and have been slow to downgrade since it has become clear they’re more like ZZZ? And they’ve only invested £175m? That would surely be such an insignificant sum for an organisation such as this for it to have not been worth them bothering, surely (expert opinion required here)?

    This is a message to try and reassure their customers I can only presume – it’s so obviously flawed to anyone with any idea about what’s been happening lately. Not sure how to look at A&L now – they must have attracted loads of people’s money recently with all the sweet interest they’ve been offering on their accounts, but then does this mean they’re very liquid or have they just been investing all that cash in risky places? Interesting times.

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