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	<title>Comments on: Spooked by Sirri</title>
	<link>http://ftalphaville.ft.com/blog/2008/05/08/12878/spooked-by-sirri/</link>
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	<copyright>Copyright The Financial Times Ltd 2006. "Alphaville", "FT" and "Financial Times" are trademarks of the Financial Times.</copyright>
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	<pubDate>Sat, 06 Sep 2008 03:20:39 +0000</pubDate>
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	<item>
		<title>by: Anonymous</title>
		<link>http://ftalphaville.ft.com/blog/2008/05/08/12878/spooked-by-sirri/#comment-20147</link>
		<pubDate>Thu, 08 May 2008 12:35:54 +0000</pubDate>
		<guid>http://ftalphaville.ft.com/blog/2008/05/08/12878/spooked-by-sirri/#comment-20147</guid>
					<description><![CDATA[@wdm -couldn't agree more. 

What I can't understand is the fashion in press reports to talk of "the greedy banks". Since when has a corporate entity had an appetite? It's a legal entity. It's the humans in the banks "wot's caused the trouble" and many should be in jail. Until that happens this problem will continue.

Properly trained bankers always knew that the ratings agency model was a sham -I'm used to a model where we barely looked at the rating -we used our own because we were closer to the client than any rating agency (or auditor) ever could be. Rating Agencies and auditors don't take any risk -they sign off everything's ok and then clear off.

Want a great career for your kids? Audit partner for a Bank - money for old rope.]]></description>
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		<title>by: wdm</title>
		<link>http://ftalphaville.ft.com/blog/2008/05/08/12878/spooked-by-sirri/#comment-20060</link>
		<pubDate>Thu, 08 May 2008 09:17:53 +0000</pubDate>
		<guid>http://ftalphaville.ft.com/blog/2008/05/08/12878/spooked-by-sirri/#comment-20060</guid>
					<description><![CDATA[.duuhhh...
It would be nice if the regulators behaved other than as junior analysts/lackeys for wall street-like maybe did what they're paid to do.
Another word for self-regulation is stealing. The entire ratings agencies-based model needs to go. We need disclosure, centralised trading, reporting and enforcement. The technology exists, but it would make it hard to perpetrate systemic frauds like rmbs cdo's, siv's, "financial insurance" etc. The banks are insolvent; anyone who believes their numbers or "credit ratings" is a fool.]]></description>
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