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Wall Street Noir: Moody's "Double Agent" Ratings

What is the chief problem in addressing corruption? Involvement of professionals, without which such acts as frauds cannot occur; and goodwill from the government that should be vigilant over such malpractices.

The financial mess in the US shows that the ruling administration and culprits (Lehmann Brothers, Merill-Lynch and Moody's) are bedmates and worryingly cozy together. How did Moody's get away with this kind of behavior. They had friends in high places, professionals employed to watch over just such behavior.

To borrow from a song by Good Charlotte, "Lifestyles of the rich and famous," is Moody's about to get away with this because they can hire a "Johnnie Cochran" or is it because of blackmailing the government with its own debt?

Put the citizenry first and punish such rogues, just like the law caught up with the Bernie Mardoff's. Slaps on the wrist cannot help fight such vice. People's investments and life's savings went down the drain due to this kind of immoral incompetence. Moody's must become the example that warns those of like mind that law is not something to be trifled with.
Read the Article at HuffingtonPost

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