Rating Agencies Fudged Numbers For Wall Street Cash

On Thursday, a Senate panel investigating the cause of the financial crisis revealed evidence of corruption on the part of the credit rating agencies, Standard & Poors and Moodys. Specifically, the evidence suggests that these firms made deals with Wall Street investment banks to rate their mortgage backed securities as triple A rated risks for fees of over $1 million dollars per rating. Read the entire story here.

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One Response to “Rating Agencies Fudged Numbers For Wall Street Cash”

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