Renewed talks of CIT failing has reignited the meltdown debate. Why do rating...

loudwalker

New member
...agencies get a free pass? Every one is irate at either the banks or the consumers and I have heard very little about the role of Moody's or Standard and Poor's. These guys put lipstick on a pig, bundled the pigs into a madeover pig pool, reapplied lipstick to that pig pool and then sold the overly cosmetic result as a AAA rated security.

Why are they not in these conversations?
Why do they get a free pass?
Is what they did criminal?
Have they had any negative consequences at all?
I am mostly talking about the bundling of mortgages and credit default swaps and how that securitization led to the whole deal.
 
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