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Keep in mind that dinosaurs would probably give anything to be taking this exam right now. Remember the alamosaurus.

Bond Ratings

At some point in this bond raising process, Facebook will have to receive a credit rating for its bonds. "Rating" is sort of a balance sheet beauty contest in which the judges are Standard & Poor's and Moody's. The key question asked in this beauty contest is not, "What would you do to make the world a better place?" Rather, it revolves around whether or not Facebook can repay its debt when it matures. Simple.

For a long time, the famed Warren Buffett owned stock in the bond rating agencies....

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