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Dec 7 / Jonathan

Blaming Moody’s

Blaming Moody’s

“We obviously cannot ask payment for rating a bond. To do so would attach a price to the process, and we could not escape the charge, which would undoubtedly come, that our ratings are for sale.”

— Edmund Vogelius, a Moody’s vice president, explained the company’s business model in a 1957 article in The Christian Science Monitor

Moody's revenue

via Barry Ritholtz; graphic via NY TImes

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