Gallows Humor at S&P as Economy Imploded

The executive at Standard & Poor’s was clear: “This market is a wildly spinning top which is going to end badly.” That sober assessment of certain mortgage-related investments, delivered to colleagues in a confidential memo in December 2006, is now part of a trove of internal e-mails and document…

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Gallows Humor at S&P as Economy Imploded

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