How The Ratings Agencies (That’s You, Moody’s) Get Paid By The Companies They Rate

Moody’s have downgraded Ireland to “virtual” junk status.

But who are these guys? Well, for one, they’ve recently escaped fraud charges for claims that they “inflated ratings on some European debt just before the financial crisis”.

And that’s not all. Not by a long chalk. Watch here.

Irish Credit Rating Cut Again By Moody’s (BBC)