drieuxster (drieuxster) wrote,

How to code a Security Rating System

Well boys an NoPerkin, here is the Hate America Propoganda:
"We hired a specialist firm that used a methodology called maximum entropy to generate this equation," says Frank Raiter, who until 2005 was in charge of rating mortgages at Standard and Poors. "It looked like a lot of Greek letters."
Managing director Tom Warrack was in the room when Standard and Poor's gave those mortgage-backed securities AAA ratings. He stands by that decision.

"I wouldn't say anything was missed," he says. "Never before in the history of the country, dating back to the Great Depression, have we had the type of nationwide market value declines, declines in home prices, and the associated default levels."

Warrack says that his agency required riskier loans to have more protections built in to receive the highest grade. He says the agency knew plenty about the mortgages inside those bonds. "We had lots of data," he says. "We had years' worth of data as to how borrowers perform over time."

[ cf This American Life on the Rating Agencies ]
and now, as we promised, Real Security Rating Code:
use myth;
use hyperbole;

exit run() if not caller;

sub run {
my ($sigma, $pi, $rho, @other_greek_letters);
print "AAA\n";
return 0;
Yes, YOU TOO can make the big bucks in High Finance!

Remember, if you are NOT supporting Our Most Glorious Military Victories against The Economy, then you are stabbing our Most Holy Warriors, who are, at this very moment, making the DOD a Profit Center!, in the back!

{ should it worry me that one might misconstrue that as getting profit centers in the DOD by, well, the back door, and doesn't that make it sound like the FreeMarketeers are merely the back door lovers of the DOD??? I wonder what God's True Marvellous Message Is There...}
Tags: economics, republican_pron

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