Welcome to European Tribune. It's gone a bit quiet around here these days, but it's still going.
As to the incentives being skewed... the rating agencies get paid for rating thingies, and if they didn't rate certain now-infamous thingies investment-grade they either got no repeat business or they didn't get paid in the first place, because said now-infamous thingies were unsellable otherwise.

The brainless should not be in banking -- Willem Buiter
by Carrie (migeru at eurotrib dot com) on Mon Apr 26th, 2010 at 07:16:01 AM EST

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