Credit Rating Exec: "We Sold Our Souls to the Devil"

Mother Jones by Nick Baumann | Oct. 24, 2008 (Special Report)

Internal documents show that while rating firms publicly defended their practices, executives privately wondered when the house of cards would fall. Full Story »

Posted by Derek Hawkins

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Walter Cox
4.2
 by Walter Cox - Oct. 24, 2008

A very clear explanation of the central fact of our economic crisis--rating agencies defrauded those who depended on the quality of their ratings. Their "issuer-pays" business model constituted a clear conflict of interest, and warnings to this effect were ignored

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Walter's Rating

Overall
4.2

Good
from 20 answers
Quality
3.9
Facts
4.0
Fairness
4.0
Information
4.0
Insight
4.0
Sourcing
4.0
Style
4.0
Accuracy
4.0
Balance
3.0
Context
4.0
Depth
4.0
Enterprise
4.0
Expertise
3.0
Originality
4.0
Relevance
5.0
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4.0
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4.0
Popularity
5.0
Recommendation
5.0
Credibility
5.0
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