AAA a Labor Myth...

[Lucas]

Do I know you?

No thank goodness.

[Rorschach]

Best to keep it that way Lucas... big time wanker our poxy.

Hey Poxy...

[IQS.RLOW]

Boxy is ok. He's not around enough to open his yap enough times to be really annoying, unlike our resident forum retard Aussie.

[Rorschach]

Boxy is a dipstick...
More on ratings and agencies...  for those poxy individuals who need it.
This from someone boxy probably voted for... 
Kevin Rudd.

At the international level, bank risk is regulated by the Basel Accord. Yet the Basel II guidelines, published in June 2004, have now been demonstrated to be inadequate because they left the determination of risk to flawed credit-ratings processes and the banks' own "self-regulated" internal assessment models. Even then, the Basel rules were easily circumvented using innovative financial structures: structured investment vehicles were deliberately employed to shift risk off bank balance sheets. As Joseph Stiglitz has argued, "many of America's big banks moved out of the ‘lending' business and into the ‘moving' business," focusing on originating loans, repackaging them and selling them on, with little emphasis on their traditional role of assessing risk and screening credit worthiness.

Instead, the crucial risk-assessment function was passed, in large part, to the ratings agencies. Dependent as they were on the banks for their revenue, the agencies were hopelessly conflicted by the lure of big profits in return for easy ratings. Jerome Fons, former managing director for credit quality at Moody's, admitted in October 2008 that "the focus of Moody's shifted from protecting investors to being a marketing-driven organization ... management's focus increasingly turned to maximizing revenues." Ultimately, this focus on the bottom line contributed to an atmosphere in which a number of private ratings agencies became too inclined to take a favourable view of the risks inherent in their clients' investments.

Easy to quote stuff when it's not full of your own opinions and thoughts.

[Neferti]

I've never had a problem with Boxhead. OK, so he's a Leftard but he usually doesn't annoy like some of them tend to. Kevin Rudd on the other hand ... just as well he doesn't try modding here. He'd definitely get a mouthful from just about everybody.

[GeorgeH]

THIS is what passes for Political posts these days?

What a heap of confected shit!

You must be so proud, boxy!

[IQS.RLOW]

Now fucktard is necromancing threads

Someone fuck him off, please before he starts his flooding and spamming.

At least stop him posting links to his own dribble.

[GeorgeH]

Poor old Costello was miffed Labor got the 9 As and that Swan got Finance Minister of the year. Poor old Tip, did stuff all work while Treasurer, fed the real estate boom with tax cuts tho the RBA was bumping up interest rates because Costello wasn’t acting to reduce inflation.

Poor old Tip, Guardian of the Future Fund is the best offer he got

[IQS.RLOW]

Only the ALP could rack up $700bn worth of debt and have fuckall to show for it.

Yet here you are, championing the bunch of wastrels.
You're a first class fuckwit.

[GeorgeH]

Debt was well under $200Bn last Sep. Anything else is due to monkey, Hokey & Co. Sorry to bust that codeine dream.