Honestly, this reminds me of the case of the rating agencies during the 2008 subprime mortgage crisis[1] (with rating agencies rating CDOs of "junk" loans as no

Honestly, this reminds me of the case of the rating agencies during the 2008 subprime mortgage crisis[1] (with rating agencies rating CDOs of "junk" loans as now magically AAA)[2]. Practically speaking, these rating agencies were incentivized by the firms paying them for the ratings to rate -- and now a la Yelp and Glassdoor can be added to that list... [1]: https://en.wikipedia.org/wiki/Subprime_mortgage_crisis https://en.wikipedia.org/wiki/Subprime_mortgage_crisis [2]: https://en.wikipedia.org/wiki/Credit_rating_agencies_and_the_subprime_crisis https://en.wikipedia.org/wiki/Credit_rating_agencies_and_the...