The End of the Rating Agencies

Up until now, the rating agencies have been able to avoid the current crisis unscathed. Their reputations have not been tarnished, even though they are one of the main causes of the crisis to begin with (imagine all of the institutional investors that could not have been able to buy the credit derivatives without the AAA rating ....)

Although this link really proves nothing, after reading "Fooling Some of the People All of the Time", I am willing to believe anything this guys says. In fact, the fact he is shorting these stocks probably means I should wake up tomorrow and start selling also.

Regardless, its worth listening to the whole 8 minutes, especially to hear his response about Lehman Brother at the end: