Episode 320 • • 50:48 - 56:49
320: Dead Man Walking
Moody's Investors Service, Portugal Debt Downgrade
Portugal's president criticized Moody's Investors Service after the agency downgraded the country's debt to junk status, calling for a European-run ratings agency. The hosts question the influence of Moody's and Standard & Poor's, noting their failure to accurately rate mortgage-backed securities prior to the 2008 financial crisis.