A Subprime Analyst's Tribute to the Talking Heads

Oct. 22, 2008: The heads of the major credit rating companies are summoned to Capitol Hill

Internal communications unearthed in lawsuits against the credit rating companies contradict their claims that they didn’t know the securities they evaluated were far riskier than the AAA ratings they assigned to them. One gem is a March 2007 e-mail from a Standard & Poor’s employee—and apparent Talking Heads fan—identified in court papers as “Analyst D.”