Even after missteps credit raters wield much power

Even after missteps credit raters wield much power
share: digg facebook twitter NEW YORK (AP) — News that Standard & Poor’s was cutting its outlook on U.S. debt rattled financial markets Monday. Cooler heads might recall that this is the same agency, along with Moody’s Investors Service, that told investors that billions of dollars of securities tied to iffy home mortgages were safe bets — right before they collapsed and helped set off the …
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