Does AAA mean anything - Mercedes-Benz Forum

 
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post #1 of 6 (permalink) Old 12-15-2008, 10:16 PM Thread Starter
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Does AAA mean anything

anymore or is it a running joke when these securities are paying 5% more than treasuries ?
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post #2 of 6 (permalink) Old 12-15-2008, 10:17 PM
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It's one A more than AA, if you know what I mean.

There is scarcely anything in the world that some man cannot make a little worse, and sell a little more cheaply. The person who buys on price alone is this man's lawful prey. --John Ruskin
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post #3 of 6 (permalink) Old 12-15-2008, 10:19 PM Thread Starter
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Either the ratings agencies should be closed down or the feds should back the AAA ratings, the non-action is worse than either two options for bringing confidence back to the market.
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post #4 of 6 (permalink) Old 12-15-2008, 10:25 PM
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Well, presumably people have now learned that the ratings mean next to nothing. On the other hand, people like to learn things the hard way.

I wonder if they've downgraded Lehman yet..

There is scarcely anything in the world that some man cannot make a little worse, and sell a little more cheaply. The person who buys on price alone is this man's lawful prey. --John Ruskin
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post #5 of 6 (permalink) Old 12-15-2008, 10:30 PM Thread Starter
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Or perhaps it's the Treasuries which are whacked ... manipulated.
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post #6 of 6 (permalink) Old 12-16-2008, 06:51 AM
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If you bought mortgage-backed AAA you'll end up in AA.

Recall that earlier generations faced down fascism and communism not just with missiles and tanks, but with sturdy alliances and enduring convictions. They understood that our power alone cannot protect us, nor does it entitle us to do as we please. Instead, they knew that our power grows through its prudent use; our security emanates from the justness of our cause, the force of our example, the tempering qualities of humility and restraint.

-President Barack Obama, 1st Inaugural address
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