Actually Reuters’ headline, and the entire article, left out the “disgraced” part.
Thanks to the corporate media, S&P and Moody’s are not seen as disgraced though they should be for many reasons.
S&P has just been suspended from the largest part of the commercial bond market. It is also still under investigation by the US Department of Justice.
These facts just bounce off the forehead of whoever wrote this article for Reuters.
Another day in the life of the “free press”.
Take your pick of three reasons why Moody’s should have been laughed out of business by now
1) It gave AAA ratings to thousands of worthless mortgage-backed securities during the 2000s
2) It gave a thumbs up to Enron and Lehman Brothers days before each went belly up.
3) It downgraded the USA in 2012 – very likely a gift to Republicans to help them promote budget deficit hysteria in exchange for opposing reforms to the credit rating industry.
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