Overrated: Agencies face reform challenges
The credit rating agencies have become whipping boys of investors, regulators and politicians after a slew of triple-A rated structured products blew up in 2007 and 2008. Chris Dammers explores what went wrong and asks if the reforms introduced by the agencies are enough to restore confidence.
The events of the last year have often been labelled "the worst financial crisis in 50 years", with some commentators putting it as far back as the Great Depression. Yet from outside the financial industry it could be hard to see why.
Admittedly, the US housing market is
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