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But due diligence is not what rating agencies do.  It's what investors are supposed to do. Rating agencies are just supposed to predict the odds of default relative to alternative investments, assuming that what they've been informed about underlying collateral is true, which is just one piece of due diligence that a responsible investor is supposed to take into account.  
by santiago on Tue Apr 27th, 2010 at 10:37:23 AM EST
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