The way it is...

If you want to see the true nature of the Squaliformes, here’s another smoking gun:

From SEC investigations into the rating agencies, an email has surfaced that pretty much sums up the whole sordid sub-prime origination, securitization, rating and servicing mess - an email from an employee found in an agency's CDO group quoted his manager as saying that the rating agencies continue to create an "even bigger monster — the CDO market. Let's hope we are all wealthy and retired by the time this house of cards falters."

The Honorable Judge Roy Bean