Moody's was so slow to downgrade the ratings of subprime CDOs, does this mean that the United States Government is already no longer a AAA credit?
http://www.bloomberg.com/apps/news?pid=20601010&sid=a8c_1vtVGzD8
Of more importance to me, if the 3-mo T-bill rate is no longer the risk-free rate, what do I use to calculate a Sharpe ratio?
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