3 ms·
You should explain such a strong assertion about Moody's.
by Bostonian 4y ago
You should explain such a strong assertion about Moody's.
- kadoban 4y agoTheir involvement in the 2008 crash certainly didn't win them any admirers. Not sure if gp has something else in mind though.
- cbozeman 4y agoThey were selling ratings on bonds instead of doing what they're actually supposed to do, which is evaluate the bond on it's merits and then assign it a rating. It was pay-for-ratings instead of pay-for-evaluation. This is documented pretty well in Michael Lewis' and Matt Taibbi's books about the 2008 financial crash.