The Invisible Hand . . . 0
And this surprises us how?
“The management of Moody’s, the management of Moody’s Corporation and the board of Moody’s Corporation are squarely responsible for the poor quality of previous Moody’s opinions that ushered in the financial crisis,” he wrote.
“The track record of management influence in committees speaks for itself — it produced hollowed-out (collateralized debt obligation) opinions that were at great odds with the private opinions of committees and which were not durable for even a short period after publication,” he added.
