Moody's Warning Labels (sub-prime version)

So Moody’s (the ratings agency who rated all sorts of absolute junk AAA in the run up to the sub-prime crisis) is planning on avoiding a similar situation in the future by including “new labels to help investors distinguish collateralized debt obligations and other structured-finance investments from corporate bonds and Treasury securities” (from WSJ).

I don’t know if “new labels” is an adequate solution. Thankfully, The Big Picture takes them to task. 

“We need to stop shoe-horning cultural use into the little carve-outs in copyright, such as fair dealing and fair use. Instead we need to establish a new copyright regime that reflects the age-old normative consensus about what’s fair and what isn’t at the small-scale, hand-to-hand end of copying, display, performance and adaptation.”

Cory Doctorow, writing in the Guardian

[via Boing Boing]