Moody’s and Standard & Poor’s (SP) shouldered significant blame in the aftermath of the Great Financial Crisis. Critics accused these bond rating behemoths of acquiescing to Wall Street’s financial innovation and slapping triple-A ratings on complex debt instruments that turned out to be worthless. Worse, they were accused of cozying up to customers (companies issuing debt) and creating conflicts of interest by rating issuer’s debt favorably in order to win more business.
Moody’s, Autodesk, and Standards-Based Moats
Moody’s, Autodesk, and Standards-Based Moats
Moody’s, Autodesk, and Standards-Based Moats
Moody’s and Standard & Poor’s (SP) shouldered significant blame in the aftermath of the Great Financial Crisis. Critics accused these bond rating behemoths of acquiescing to Wall Street’s financial innovation and slapping triple-A ratings on complex debt instruments that turned out to be worthless. Worse, they were accused of cozying up to customers (companies issuing debt) and creating conflicts of interest by rating issuer’s debt favorably in order to win more business.