Post

Corporate bonds. The next crisis.

They are high as a kite. Or they've been bribed.

The rating is based on information provided by the issuer. So..."plausible deniability"

Are they all just getting bribed by SpaceX?

slate.com/podcasts/wha...

In retrospect it would have been better for the rating agencies to be bankrupted by those suits alleging their RMBS ratings were fraudulent

Very 2007 rating.

the only truthful part is where they say that spacex has access to capital through equity markets, which is all that matters

They did the same with the housing bubble in 2005, so this shouldn't come as any surprise. They are captured, no diff than it ever was.

Is this gonna send the stock to infinity and beyond? Great musk gonna be worth 10 trillion by next week

Reminds me of the time I went to a preview of Inside Job and in the Q&A, securitization peeps from the banks & the ratings firms who were in the audience got into an open discussion about how the ratings teams were using the models that the banks had given them. This smells like that.

What a crazy coincidence that all the rating agencies exactly agreed with each other

Price discoverers in the mud

The whores at the rating agency are back, baby!

The Big Three rating agencies helped get us into the Great Recession with their BS opinions about higher-risk investments. And remember, kids, the rating agencies get paid by the companies they are rating. What could possibly go wrong (again)?

it is becoming increasingly difficult to push back on "the economy is fake anyways" people when shit like this happens

what's the problem. they can issue more stock to pay off the debt

Remember the rating uplift given to Paramount because Ellison is shareholder (but no formal commitment)

Did they use Grok to generate those analyses?

striking while iron is hot

it's a pump and dump, using normal people as the exit liquidity through index fund fast tracking