Wednesday, June 2, 2010

Moody's analysts felt bullied to give rosy ratings

It wasn't us. They threatened to take our lunch money (huge fees) away. We had no choice, right?

Some former officials at Moody's said they felt intimidation from bosses to assign rosy ratings to risky debt products, according to testimony to a government panel probing the causes of the financial crisis.

Source: finance.yahoo.com

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