Rating agencies sparked crisis, Senate panel concludes:

04/14/2011 | Reuters

A Senate investigation panel said credit rating agencies triggered the financial crisis when they downgraded ratings on mortgage-backed securities. The panel criticized the agencies for granting top ratings to complex MBS even after the housing-market collapse began. "Perhaps more than any other single event, the sudden mass downgrades of [residential mortgage-backed securities] and [collateralized debt obligation] ratings were the immediate trigger for the financial crisis," according to the panel's report.

View Full Article in:

Reuters

Published in Brief: