After watching the latest PBS NOW video detailing the insider shananigans of the three major credit rating agencies — Standard & Poors, Moody’s Corporation, and Fitch Ratings — I’m too pissed to really give a fully objective commentary.
I highly suggest you watch this 30 minute report!
These credit rating agencies were the gatekeepers of credit industry. They were the traffic cops so to speak.
Why didn’t they stand up and protect the folks who were using their “independent advice” as financial gospel?
Three words – Profit over Analytics.
Credit and Credibility part 1
Credit and Credibility part 2
Credit and Credibility part 3
You can also see the full video here at PBS NOW.
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