Milken: Three US companies are AAA, but S&P rated 15,000 structures AAA
Michael Milken · Michael Milken – Innovations in Finance, Medicine, and Education (EP.371) · Feb 26, 2024 · at 46:56
Michael Milken compares the rarity of corporate AAA credit ratings against the proliferation of AAA-rated structured real estate products prior to the 2008 financial crisis.
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“There's maybe three companies in America that are rated triple A. S and P rated in a period of time, 15,000 structures, triple A, almost all of them real estate. And in some cases you lost 100% of your money in a triple A.”
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