Study Finds Flawed Practices at Ratings Firms
09 JUL 2008 from the New York Times | Read the full story»
[A] blistering 37-page report issued by the Securities and Exchange Commission... confirmed what many on Wall Street had long suspected: the major ratings firms, including Fitch, Moody’s and Standard & Poor’s, flouted conflict of interest guidelines and considered their own profits when rating securities, among other suspect practices. (Subscription required)
Hat tip: Stephen Garner
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