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Coding Flaws Caused Moody's Debt Rating Errors

Posted by timothy on from the uh-oh-spaghettios dept.

An anonymous reader writes "The Financial Times has the story that billions in incorrect AAA ratings given out by Moody's were the result of a coding error in its computer models. 'Internal Moody's documents seen by the FT show that some senior staff within the credit agency knew early in 2007 that products rated the previous year had received top-notch triple A ratings and that, after a computer coding error was corrected, their ratings should have been up to four notches lower.'"

3 of 277 comments (clear)

  1. Yeah right, that's what it was... by Colin+Smith · · Score: 3, Funny

    A coding error.

    --
    Deleted
    1. Re:Yeah right, that's what it was... by PotatoFarmer · · Score: 5, Funny

      while (true) {
      if (isSECWatching = false) {
      commitEgregiousFraud();
      }}


      Assignment vs. equality check strikes again!

  2. It can't be Coders complaining by cps42 · · Score: 4, Funny

    Any dev worth his salt would be blaming, in order:
    1) The Firewall
    2) The Load Balancer
    3) The Firewall
    4) The Network Routers
    5) The Firewall
    6) The Network Cables
    7) The Firewall
    8) The Network Engineering Team
    long before they figured out it was a Layer 8 issue in the code.