WALL STREET RATINGS AGENCIES THREATENED? STANDARDS TOO POOR?

January 6th 2009

Wall Street Ratings agencies threatened? Standards too Poor?

by

David P. Michaels for MercoPress News Agency

WallSt

Ratings companies used to have a great name. No longer. The subprime mortgage crisis has seen to that. Once seen as being blue chip companies with a sterling reputation, the ratings companies have now come to be seen as part of the sordid network of double dealing in Wall Street in which conflicts of interest and outright dishonesty led to millions losing money, while the fat cats of the ratings companies raked it all in.