Quote:
Originally Posted by wiphan
If these ratings companies are so good at their job and so credible then what the hell were they doing in 2005,2006, and 2007 when they were rating the mortgage backed securities AAA?
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Nobody has said they are good and credible, they are awful, and everyone knows it. The market even told them so yesterday, as they rushed to American treasuries. Safest haven in the world during financial unrest.