Credit Ratings Sold For A Buck Or Two..

The buck or two is such an understatement.

Posted on Calculated Risk

From Kevin G. Hall and Chris Adams at McClatchy Newspapers: Senate panel: Ratings agencies rolled over for Wall Street

• A Senate panel investigating the causes of the nation's financial crisis on Thursday unveiled evidence that credit-ratings agencies knowingly gave inflated ratings to complex deals backed by shaky U.S. mortgages because of the fees they earned for giving such investment-grade ratings.

Yeah... What Wall Street Crisis Are We Even Talking About?