This is not question of credit ratingt agencies getting wrong results. They use these systems because they work. Big number of false positives is just collatera

This is not question of credit ratingt agencies getting wrong results. They use these systems because they work. Big number of false positives is just collateral damage. Maximizing expected value is what banks and insurance companies want. It's like poker, you don't play to win every hand, you play to get more money.