Subscribe to this blog's feedPerhaps they did, according to this paper from the Hudson Institute, which looks at their role in putting together structured mortgage products.
Of even greater concern, however, is the fact that the process of creating MBS and CDOs requires the ratings agencies to arguably become part of the underwriting team, leading to legal risks and even more conflicts....
In the new issue of Risk, which went live today, we look at the efforts the rating agencies have been making to regain investor confidence and repair their damaged reputations - for them, after all, the difference between success and obsolescence is a matter of trust.
