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S&P: We Knew Nothing! Nothing!

Calculated Risk found this 10/22/2008 on bigpicture.typepad.com

: We Knew Nothing! Nothing! Repeat that headline in your best Sergeant Schultz voice for maximum effect. Then read the testimony of Deven Sharma, President of Standard & Poors in the same voice: S&P is not alone in having been taken by surprise by the extreme decline in the housing and mortgage ...