“Thanks to a mountain of evidence gathered for a pair of major lawsuits, documents that for the most part have never been seen by the general public, we now know that the nation’s two top ratings companies, Moody’s and S&P, have for many years been shameless tools for the banks, willing to give just about anything a high rating in exchange for cash. In incriminating e-mail after incriminating e-mail, executives and analysts from these companies are caught admitting their entire business model is crooked. ‘Lord help our fucking scam . . . this has to be the stupidest place I have worked at,’ writes one Standard & Poor’s executive.”

http://www.rollingstone.com/politics/news/the-last-mystery-of-the-financial-crisis-20130619?print=true

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