The Last Mystery of the Financial Crisis

Coincidentally, Warren Buffett's Berkshire Hathaway was a major shareholder of Moody's.  But we all know the octogenarian billionaire, the so-called Oracle from Omaha, walks on water when it comes to integrity, right?

http://www.rollingstone.com/politics/news/the-last-mystery-of-the-financial-crisis-20130619

SP downgrades Moody's

http://blogs.telegraph.co.uk/finance/tracycorrigan/100006756/why-sp-is-worried-about-moodys-and-vice-versa/

In an ironic twist, S & P is downgrading Moody's, which signals the beginning of a mutual cannibalization frenzy among the 3 credit ratings agencies (Fitch being the other). They all enabled and perpetuated the financial Ponzi schemes by assigning AAA credit ratings on worthless, toxic mortgage-backed securities, but the government did nothing to disembowel them. They also missed on the financial collapse and insolvency of major banks. It's ironic because while the government didn't kill them off, they will do it to each other.

S & P downgrades Greece, Portugal, and Spain

The contagion spreads. Folks, as I have posited many times, this is only the beginning.

http://online.wsj.com/article/SB10001424052748704423504575212104219854716.html?mod=WSJ_hpp_MIDDLETopStories