The standard that keeps us poor

A high-priced receiver with a five year, $50 million contract drops a short pass. How many times have you said, “Well, I can do that.”? Seems I now say it at least once a day, especially after reading the morning’s headlines on the financial crisis. I’m starting to feel as if I know more than the supposed industry “experts.” Scary thought, folks, because I ain’t all that smart. From the Wall Street Journal:

“Standard and Poor’s Ratings Service is reviewing how it assigns ratings to collateralized debt obligations of structured-finance securities because of changing market conditions amid the deepening recessions in the U.S. and Europe.”