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What Did the Ratings Agencies Know About AIG?

They rated the CDO's as AAA because if they didn't, the J.P. Morgans, etc would go to another rating agency. They were only compensated for the stuff the were asked to rate. The crooks on Wall St. wouldn't bring you anymore business unless you rated their crap as AAA. As long as there was big money to be made, they were going to cash in, whether it was dishonest or not.