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June 23, 2012

Don't shoot the messenger, say ratings agencies

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As market conundrums go, little rivals the credit rating agencies. Standard & Poor's, Moody's Investor Service and Fitch Ratings have spent much of this millennium getting the big calls spectacularly wrong. In 2001 they were rating Enron "investment grade" just four days before it went bust. Lehm... FF News: Fundamental

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