S & P downgrade

The disastrous aftermath of the S & P downgrade leads me to believe there is widespread disregard in the financial community of the adage “consider the source.” This article – and a few of the books written following the 2008 Wall St. meltdown – show how S & P and the other rating agencies traded their objectivity for profits and disregarded the risk posed by the toxic mortgage securities they certified as investment grade.  Yet another thing wrong with our economic system.


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