Mooooooody's Tries to Prove its Not a Joke

Mooooo-dy's

Mooooo-dy's

This is classic.  After years spent gorging itself on fees from slapping paid-for “quadruple A” ratings on junk bond garbage, Moody’s (MCO) has decided now, in the Spring of 2009, to start downgrading stuff.

Not only have the horses already bolted the barn, the barn itself has burned down and is a pile of smoldering ashes.

Moody’s put the entire Municipal Bond universe on credit watch negative early this week.  Wow, now you’re as sober as a judge?

But here is the ultimate move Moody’s is making in an effort to restore its credibility: 

From TheStreet.com:
Warren Buffett’s Berkshire Hathaway and several subsidiaries were downgraded late Wednesday by Moody’s Investors Service, which cited hits to “key businesses” amid the recession.

For those not keeping score:  Berkshire Hathaway owns 20% of Moody’s common stock.  By Downgrading Daddy, Moody’s will have something to point to when the next round of congressional hearings into the practice of pay-for-play ratings agencies takes place (which better be soon).

This move takes the term disingenuous to a “whole nubba lebel”.

Full Story:  Moody’s Downgrades Buffett (TSC)

Read Also:  Berkshire’s Moody’s Downgrades Buffet (Blogging Stocks)

What's been said:

Discussions found on the web
  1. vancouver dating sites free commented on May 20

    vancouver dating sites free

    Mooooooody's Tries to Prove its Not a Joke – The Reformed Broker

  2. Dating sites commented on Jun 16

    Dating sites

    Mooooooody's Tries to Prove its Not a Joke – The Reformed Broker

  3. who is mulatto dating commented on Jun 21

    who is mulatto dating

    Mooooooody's Tries to Prove its Not a Joke – The Reformed Broker

  4. keto soup recipes commented on Jun 24

    keto soup recipes

    Mooooooody's Tries to Prove its Not a Joke – The Reformed Broker

  5. keto diet plan for women commented on Jun 25

    keto diet plan for women

    Mooooooody's Tries to Prove its Not a Joke – The Reformed Broker

  6. pittsburgh gay chat commented on Aug 27

    pittsburgh gay chat

    Mooooooody's Tries to Prove its Not a Joke – The Reformed Broker