So Sanders and Warren are not the political embodiment of white privilege? Pete has done far more to court black voters than Sanders or Warren, you are just not even being realistic now.
I really think you're wrong with this whole angle. McKinsey's customers are asking for management help but want the vendor's discretion because it will see sensitive competitive information. So the vendor has its employees promise not to divulge the company's information with an NDA. It would be very hard to make a business at all out of management consulting if you did not have this mechanism of promising secrecy. Pete's bound by his agreement. He's asked McKinsey to release him from it. But of course, to do so they'd be breaking their promises to their own customers. So, they have to, in turn, ask all those customers if it'd be alright to release Pete. Maybe it'll happen, but this is very different from something like tax returns where a candidate can choose for himself what he can share.
Companies pay for ratings to make credit decisions. If they don't trust the ratings why would they keep paying for them?
Rating agencies weren't accused of giving Enron high ratings for money. You don't know what you're talking about. The agencies just got it wrong Enron lied.
End Moody's and S&P credit-rating agency racket This month marks the 10-year anniversary of the housing market meltdown that led to the Great Recession. Is another crisis looming around the corner? Hopefully not, but it is worrisome that a decade later, Washington is engaged in all the same derelict behavior that caused the crisis in October 2008. The government agencies are still issuing taxpayer guarantees on more than 90 percent of mortgages — many with less than 5 percent down payments. Yikes. Worse, the biggest conspirators in the meltdown, the duopolistic credit rating agencies — Moody’s and S&P — which gave sterling AAA grades on these bonds up nearly to the date they collapsed into financial rubble, are still dominating 80 percent of the credit rating market. Why are they even still in business? Throughout 2007 and 2008, these agencies encouraged investors to snatch up hundreds of billions of dollars of mortgage-backed securities. They told investors these mortgages were “virtually risk-free” and stamped them with AAA ratings. Thanks to this incompetence, millions of Americans lost their lifesavings, and America suffered one of the greatest financial disasters in our history. Between lost shareholder wealth in the stock market and declines in home equity, the nation lost $10.2 trillion in 2008, roughly enough to pay off the entire national debt at the end of that year. After the fact, the government’s official watchdog agency later called the bond rating agencies “essential cogs in the wheel of financial destruction.” This wasn’t the first time. The rating agencies also failed to issue advance warnings on the meltdowns and bankruptcies at Enron, WorldCom, the Asian Flu, Lehman Brothers, Bear Stearns and others. They are the fire alarm that never rings. They still are. The Security and Exchange Commission’s annual report issued in December 2016 found evidence of routine misbehavior and sloppy underwriting standards at the big bond rating agencies, yet again. Fortune reported that in 2015 the SEC charged Standard & Poor’s with a $58 million penalty for fraud. The SEC found that the rating agency “elevated its own financial interests above investors by loosening its rating criteria to obtain business and then obscuring these changes from investors.” Nothing seems to change and no one at the SEC seems to do anything about the scandal. One clear problem is that S&P and Moody’s have a clear conflict of interest in that they rate the bonds of the very companies that are paying them to rate the bonds. This is like having college students pay the teachers based on the grades they give them. The Financial Crisis Inquiry Report found investment banks frequently telling Moody’s that if they don’t like their credit rating, they will take their business down the street to S&P, and vice versa. They essentially pay for good credit ratings. That’s the very definition of a racket. ...
Anderson wasnt a rating agency. I know you know that but apparently i have to say it. Rating agencies mqke their evaluation on the information we are all privy to or information that the company gives them specifically but they can only evaluate what is given As far as rating something like mortgage backed securities i really couldn't tell you how the agencies rate them as that is more complex because its a bunch of independent mortgages. That seems to probably have been the biggest problem in giving accurate ratings. As far as agencies being paid by the subjects of their ratings, in the information age its hard to keep ratings in only the hands of entities that paid for them. Getting paid from the rating subjects became a matter of survival
He is the embodiment of white male privilege but Sanders and Biden are not? Pete is a short gay man with the word “Butt” in his last name... I’m sure he had it hard.
Again, I'm asking for specific names and crimes they committed. You can't prosecute someone just because you say they did something bad. We are a nation of laws with specific crimes having specific legal definitions and specific penalties. Have you ever considered that the problem is that our laws didn't cover the bad things that were done? Sure - but you're not criticizing *his* career. You're just criticizing a giant company that did bad things (the ICE stuff was even long after he was gone) and arguing that makes him bad. You have literally ZERO evidence of anything beyond that - it's just innuendo because you've apparently been bat-singaled to attack him and you don't know how. So again, are Sanders and Warren bad because the US Senate didn't pass laws that made the right things illegal in the financial meltdown? None of that has anything to do with McKinsey or your attack on him based on that. It's interesting that we can now add "white people" to the list of bad people progressives are against. Keep narrowing that list of acceptable people in the world... And just to be clear, you believe he's less qualified than say... Marianne Williamson?
It's pretty amusing all around. His dad was an immigrant. His parents were professors. His grandparents included an army medic and a musician. He didn't come from wealth. He served in the military. He excelled academically and earned each of his positions. But he's a white male ... so "WHITE PRIVILEGE!!".
I don’t even know what we are arguing about here. Pete is fine as a candidate. Warren and Sanders are fine too.... just more progressive and unrealistic in which policy proposals can get made into law with a majority vote in Congress.... which is also fine when running for President. Dream big. No shame in that. Tone it down my fellow libs. When you make a policy or personal argument about another Dem candidate, the contrast to Trump and the GOP should consistently be included.
Yes, he should have made them understand the importance of prosecuting the financial fraud that nearly destroyed the economy because apparently the DOJ didn't understand. Yes, Obama's DOJ and his responsibility.
