Journal: Moody’s Loss of Integrity

Commerce, Commercial Intelligence, Ethics, Methods & Process
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Full Story Online

How Moody’s sold its ratings – and sold out investors

Kevin G. Hall

McClatchy Newspapers

October 21, 2009

A McClatchy investigation has found that Moody’s punished executives who questioned why the company was risking its reputation by putting its profits ahead of providing trustworthy ratings for investment offerings.
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“The story at Moody’s doesn’t start in 2007; it starts in 2000,” said Mark Froeba, a Harvard-educated lawyer and senior vice president who joined Moody’s structured finance group in 1997.

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