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  • 10 years ago
Credit and Credibility

Credit and Credibility

What role did the credit rating agencies play in the current economic crisis? A former managing director at Standard & Poor's speaks out on U.S. television for the first time about how he was pressured to compromise standards in a push for profits. Frank Raiter reveals what was really going on behind closed doors at the credit rating agencies the public relies on to evaluate the safety of their investments. "During this period, profit was primary; analytics were secondary," Raiter tells NOW Senior Correspondent Maria Hinojosa. Who was watching the watchers? Surprising new revelations in the economic debacle.

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