The Associated Press reports that the U.S. Department Of Justice has alleged in a lawsuit that Standard & Poor’s rating agency gave high ratings to mortgage-backed securities it knew were risky. An allegation in the report include this:
“In March 2007, one analyst who had conducted a risk ranking analysis of 2006 mortgage-backed securities wrote a version of ‘Burning Down the House’: ‘Going – all the way down, with/Subprime mortgages.’”
S&P says it did nothing wrong. We disagree! They could have allegedly picked a worse song, like one of the following:
1. We Built This City. Not only was this Starship song once named the Worst Song Ever by Blender, the song suggests that the City was built on Rock N’ Roll, which seems like a less stable foundation than granite to us.
2. We All Live In A Yellow Submarine. This Beatles song could easily have its lyrics changed “We All Live In A Triple A Subprimine,” inexplicably upgrading the ugly color yellow to golden “AAA.”
3. The Game. This Motorhead song has been used as Triple-H’s entrance theme in the WWE, and HHH would have been a more accurate rating for 2007 sub-prime mortgage products.
