“I can assure you it wasn’t because of better access to information than our competitors. Nor were we smarter than they were. The real answer was contained in one four-letter word —bias. To this day, the other rating agencies are paid huge fees by the companies for the ratings; their ratings are literally bought and paid for by the companies they rate. These conflicts and bias in the ratings business are no trivial matter. To make money in today’s investment world — and to avoid unexpected losses — you must understand them. And you must know how to sidestep them. I have decided to dedicate a three-part series to the subject, dedicating today’s to one of four ratings fiascos of modern history.”
http://www.moneyandmarkets.com/whats-the-greatest-deception-of-our-time-60961
Tip Freedomwat.ch Staff with Bitcoin