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Released: September 27, 2010
Raters ignored unsafe loans, panel told
Source: Gretchen Morgenson, New York Times (Free Registration)
As the mortgage market grew frothy in 2006 — leading to a housing bubble that nearly brought down the banking system two years later — ratings agencies charged with assessing risk in mortgage pools dismissed conclusive evidence that many of the loans were dubious, according to testimony given last week to the Financial Crisis Inquiry Commission.
Read Full Article: Raters ignored unsafe loans, panel told
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