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October 28, 2009

On Rating Agencies

"I don't think there's any real value in ratings today. That's obvious, from the way they rated a lot of the structured products as investment grade.

The agencies have undermined their brand creating a caveat emptor reputation rather than one of trustworthiness."

Peter Schiff`s comments on the economy, stock markets, politics and gold. Schiff is the renowned writer of the bestseller Crash Proof: How to Profit from the Coming Economic Collapse.
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