The dead bodies keep surfacing. It’s now clear the ratings agencies, who were paid for impartial evaluations of Goldman’s Abacus and other CDO deals, had serious qualms. Here are a few sound bites from internal e-mails quoted in today’s Wall Street Journal:
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Jimmy Cusack is the tough kid from a blue-collar neighborhood who made good on Wall Street. Well, almost. After a sterling start to his career, things have soured. His hedge fund has collapsed. The bank is foreclosing on his condominium. And his wife is three months pregnant. That’s the good news.
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