Wasn’t me this time, but I sure know how this feels.
FT: Moody’s error gave top ratings to debt products
It makes me wonder; what would the members of the congregation do if they found a bug that, when corrected, would cause major disruption to a company’s financial position or even the markets?
Internal Moody’s documents seen by the FT show that some senior staff within the credit agency knew early in 2007 that products rated the previous year had received top-notch triple A ratings and that, after a computer coding error was corrected, their ratings should have been up to four notches lower.
It makes me wonder; what would the members of the congregation do if they found a bug that, when corrected, would cause major disruption to a company’s financial position or even the markets?
Comment