Moodys Subprime Mortgage Rating Blamed on Software

Online Business Add comments
Estimated reading time: 0 minutes, 48 seconds

From the department of redundancy department and bureau of subprime management bureau, the largest debt ratings company blames 500 billion in losses to a programmer error.

Nevermind the fact that Moody’s ratings were the same as the Standard and Poor’s debt ratings.

Moodys wants you to believe that a computer was responsible for the subprime mortgage mess and that get rich quick mortgage brokers, misguided financers, predatory lenders and unqualified borrowers were not at fault for the housing crunch.

So instead of admitng to widespread deception and fraud by all parties involved, blame the computers.

I find it odd that if there is a 1 cent error with computers at the supermarket checkout stand this bug will be fixed immediately, and the largest debt ratings company that is responsible for hundreds of billions of dollars has a bug that goes unnoticed and unfixed for 4 years.

Read the article about Moody’s debt rating software bugs at Financial Times and get an unbiased discussion here.

Tags: , , ,

6 Responses to “Moodys Subprime Mortgage Rating Blamed on Software”

  1. Mark.Jones Says:

    That is an interesting article. In our experience website owners find it difficult to understand visitor behaviour even with good systems such as Google Analytics.

    We have recently come across an excellent piece of software that not only allows them to monitor individual user behaviour in real time, but also facilitates direct engagement between visitor and user. This has been increasing conversions by an average of 15% in the websites we have implemented it in.

    It seems that the individualised data gives a more enlightening perspective.

  2. Kyle Says:

    This might be a little off subject, but have you looked at seoclientprospectingrobot dot com? Just wondering if you have any reviews of it, I’m thinking of buying a copy, and wanted to see if anyone had bought a copy yet.

  3. Mortgage Fraud Sucks Says:

    Thax for the useful info.

    Mortgage Fraud Suckss last blog post..Don’t Let SPS Steal Your Home.Take Action

  4. adam Says:

    Great information about the housing crisis and ease of online financing.

  5. Ron val Says:

    Online can provide you with the best possible rates and terms
    available regardless of your credit history. We use SEO to get all our traffic and it is the foundation of our 20 person company.

  6. Tracy L. Says:

    This is a good info for those who are thinking about generating a software for mortgage. Some software are available in the market.

Leave a Reply

Notify me of followup comments via e-mail. You can also subscribe without commenting.