FYI: Standard & Poor’s , Moody’s and Fitch Ratings, the biggest credit-ratings companies, were major causative factors in the financial crisis. Even free-market acolyte Alan Greenspan admitted as much. Little has changed since then, other than that enough time has passed to allow investors to forget this fact.
I have been following this issue since 2007, so here is a brief history.
Regards,
Ted
https://www.bloomberg.com/opinion/articles/2019-08-14/the-bond-raters-still-need-to-be-fixed
