Comments by "L BA" (@lambertois11) on "Structural Change Underway in China Property: McCormack" video.

  1. The CEOs of the so-called rating agency (Fitch, S&P, Moody) were summoned in front of the United States Congress to testify after the 2007-2008 financial crisis. When asked to explain why they gave a AAA rating on the infamous mortgage-backed commercial papers, their unanimous answers were: Our contractual agreements are very clear, we do NOT give ratings, we do NOT make recommendations, we are only giving OPINIONS! Organizations and investors lost billions of dollars because of the bad commercial papers. Not a single lawsuit was brought against Fitch, S&P or Moody, because their contractual agreement is bullet-proof! The use of the word ''RATING'' comes from the banks and the brokers who mislead their clients!
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  2. Structural Change Underway in China Property. This is the most overrated pipe dream!
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