The latest evidence of rating agencies' (MCO, MHP) irresponsible behavior comes from the...

|By:, SA News Editor

The latest evidence of rating agencies' (MCO, MHP) irresponsible behavior comes from the Financial Crisis Inquiry Commission: An analyst charged with assessing mortgage pools says almost half the mortgages he sampled in 2006-2007 failed to meet the quality benchmarks banks were promising to investors. Far from poor execution, this was reckless pursuit of profit by design.