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Debt Raters Blissfully Ignorant if the Price is Right

Written by Wanda Pasz Sunday, 07 December 2008

Millions of citizens live in fear of what's in their credit reports. It seems that almost anything can cause a downgraded credit score that can have disastrous consequences the next time a mortgage is due for renewal or you apply to rent an apartment or lease a car. But these stringent assessments don't apply financial high flyers. According to a recent report in the New York Times, commercial credit rating heavy weights like Moody's Investor Services inflated the credit status of the high risk bags of subprime mortgages that sparked our current economic meltdown. Read more.

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