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Blame software

May 21st, 2008 · No Comments

When all else fails, blame a programmer. Credit rating agency Moody’s blames a software error for granting inflated ratings to certain securities. However, as Andrew Leonard points out, it just so happens that Moody’s rival Standard & Poors rated the same securities identically. I guess it’s easier to blame the software than it is to admit you were cooking the books to help out your customers.

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