Sublime

Thanks in part to those conflicts of interest and lack of competition that Senator Shelby had talked about, along with a good helping of old-fashioned greed, the credit rating agencies had assigned AAA ratings (even safer than Enron’s rating) to billions of dollars of mortgage-backed securities that should have been labeled “junk.” If “tricking an

One senior official at the Department of Commerce at the time was struck by how far this one company in the private sector had intruded into what was, in the end, a matter of public safety. “You’re essentially taking a public good that’s been paid for with taxpayer dollars and restricting it to the privileged few who want to make money off it,” he

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