Whilst investors and bankers gnash their teeth as they suffer the fallout from the sub prime mortgage fiasco in the US, there is one group of people that will be rubbing their hands - lawyers.
It seems that the liquidity crunch, brought about by the sub prime fiasco, has exposed another problem. That of the ratings applied by so called "professional" investment firms and hedge funds.
I understand that some companies given AAA+ ratings are in fact not quite as "blue chip" as their ratings would suggest, and that money put into these companies has in fact been lost.
The question therefore arises, why were they given AAA+ ratings?
Seemingly the research done by some "professional" companies that provide ratings was not as thorough as it should have been.
The lawyers will have a field day when people wake up to the fact that the ratings are in fact wrong.
As said, there is always a silver lining!