That doesn't square with Goldman's bankers chopping up and retranching known low quality derivatives, submitting them to the rater, and not being surprised when

That doesn't square with Goldman's bankers chopping up and retranching known low quality derivatives, submitting them to the rater, and not being surprised when they were rated far less risky than the same mortgages when rated in previous tranches. To some degree there is blame to be shared, but there is also fraud for which nobody was truly held accountable.