Or you can be both. Part of the impetus for the 2007 crash was that investment companies like AIG were making complicated and obscure financial instruments tha

Or you can be both. Part of the impetus for the 2007 crash was that investment companies like AIG were making complicated and obscure financial instruments that hid lots of risk, while also being the agency everybody looked to to grade the risk of financial instruments. They rated their own mortgage debt products as low-risk based on fraudulent analysis.