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Credit Rating Agency Whistleblower Speaks Out

HeadlineAug 23, 2011

A former executive at Moody’s has come forward to say that the credit agency intimidated and pressured analysts to issue glowing ratings of toxic complex, structured mortgage securities. William Harrington said the credit-rating agencies suffer a “conflict of interest” because they are paid by banks and other big companies but are supposed to rate them without bias.

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