Panel Cites Pressure for Market Share, Revenue in Slamming Moody’s, S&P for Role in Financial Crisis
April 30, 2010
Among the numerous flaws in the credit rating process that Congressional critics seized upon last week were the sales revenue and market share pressures that Moody’s Investors Service and Standard & Poor’s felt in issuing MBS ratings that later proved to be far too inadequate. “Competitive pressures, including the drive for market share and need to accommodate investment...