Can you elaborate on your point about government force? My understanding was that Moodys and S&P aggregated poorly rated mortgages and then gave arbitrarily hig

Can you elaborate on your point about government force? My understanding was that Moodys and S&P aggregated poorly rated mortgages and then gave arbitrarily high ratings as a whole. This of course created perverse incentives to sell mortgages to people with bad or no credit ratings whatsoever, as long as they could be repackaged and sold upwards.