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


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.

Comments (2)
  • Papaswamp
    , contributor
    Comments (2236) | Send Message
     
    …so why isn't the FBI investigating?…before the SEC destroys all the documents. Oh that's right…since Moody's didn't down grade us they are ok. When law enforcement no longer protects the people but instead ignores or hides the illegal activities of a particular class…then we have an Oligarchy.
    19 Aug 2011, 12:06 PM Reply Like
  • Poor Texan
    , contributor
    Comments (3527) | Send Message
     
    "Harrington believes Moody's ratings don't always reflect the conclusions of analysts, and claims one exec lied under oath during Congressional hearings."

     

    A very serious charge.
    19 Aug 2011, 12:11 PM Reply Like
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