Moody's Finally Gets It

Moody's might actually be getting into the forecasting business again, unlike in the Ambac/MBIA/etc. calls, where their barn door closing alerts came way after all the aminals had left already, and everyone else had not only pretty much agreed they were planning to, but had also helped them pack. What good's a bulldog with no bulls to taunt? So why'd you let them go, eh? Uh, sorry; obscure, and likely in bad taste.

Mr. Mortgage reports Moody's is actually warning about the Alt-A segment of the mortgage universe. Better late than never? They're also saying it's early days, and the fallout might could dwarf the subprime fiasco. Hoodathunk?!! I'm shocked, shocked...

Oops; ok, thought about it for another minute, and actually, they're prolly way late on this call also, in that the paper's already priced bad stuff in, arguably too much bad stuff, and the only utility their announcement serves is to tell people to put their heads between their legs since the plane isn't gonna land too terribly prettily.