The independence of collateral managers

“The real question throughout the subprime crisis was whether the collateral manager’s role was legit, or whether these firms lent their names and the appearance of objectivity to facilitate the sale of securities that were defective,” said Ann Rutledge, principal of structured-finance consulting firm R&R Consulting. See Serena Ng’s article in today’s WSJ, ‘Collateral Managers’: Independent or ‘for hire’? http://on.wsj.com/ilRuvs.