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Rating Agency Data Aided Wall Street in Mortgage Deals

Date: April 23, 2010
Authors: Gretchen Morgenson and Louise Story
QUOTE: One of the mysteries of the financial crisis is how mortgage investments that turned out to be so bad earned credit ratings that made them look so good. One answer is that Wall Street was given access to the formulas behind those magic ratings — and hired away some of the very people who had devised them.

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