They are no different to the agencies who rated the bonds. They are paid to meet a number or a rating. No difference. RE agents are just used car salesmen in this mess (they are just grease in the gears).
Without the ratings agencies or the appraisers doing their nefarious deeds, this would not have reached the level of degradation achieved. They are the "objective analysis" in all of this mess. Nobody noticed that the "objective" part was a target to hit.
damn...we should write for Daily Reckoning.....
