The financial crisis of recent vintage had some spectacular fireworks, from the collapse of Lehman Brothers to the rescue of AIG and the ultimate bailout of much of the industry, and on the periphery of it all were the rating agencies. Standard & Poor’s, owned by McGraw Hill, Moody’s and Fitch Ratings are often mentioned along with unscrupulous lenders and irresponsible borrowers as the culprits of the crisis.
Rating agencies walk credibility tightrope
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