In the Stock Market, Nobody Knows You’re a Cow

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Which might explain some of the B.S. that's been going on lately!
Which might explain some of the B.S. that's been going on in the markets lately!

?Actual transcript of an instant message exchange between two Standard & Poor’s officials from April of 2007:

Official #1: Btw that deal is ridiculous.

Official #2: I know right…model def does not capture half the risk.

Official #1: We should not be rating it.

Official #2: We rate every deal. It could be structured by cows and we would rate it.

At least now we know where the opening and closing bells come from.

With a tip of the TOONrefugee cap to?Peter Steiner.

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