Home \ Keywords \ CDOs

You are here


The vendetta against S&P

"The Obama administration’s suit against the rating agency Standard &Poor's makes for riveting headlines and lousy history. We want to blame the financial crisis and Great Recession on greed and dishonesty. The charge that S&P rigged bond ratings for its own gain — providing artificially high ratings on the mortgage-backed securities that inflated the credit bubble — fits this self-serving morality tale.