Former Moody's (MCO) analyst William J. Harrington denounces the ratings agency as hopelessly...

|About: Moody's Corporation (MCO)|By:, SA News Editor

Former Moody's (MCO) analyst William J. Harrington denounces the ratings agency as hopelessly compromised by its core conflict of interest: the firm is paid by the same debt issuers whose securities it rates. Harrington believes Moody's ratings don't always reflect the conclusions of analysts, and claims one exec lied under oath during Congressional hearings.