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Why do people 'rate' the ratings agencies?

Some institutions are now having their credit rating downgraded by Standard & Poor's because they invested too much capital in securities recommended: ie were given a triple A rating, by - believe it or not - Standard & Poor's. Their capital got wiped out and S & P are now sticking the boot in. Somebody should prosecute this guys. Do'nt you think?

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erikjohnson says

5 years ago
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