Mathis, Jérôme; McAndrews, James; Rochet, Jean-Charles - In: Journal of Monetary Economics 56 (2009) 5, pp. 657-674
Credit rating agencies (CRAs) are accused of bearing a strong responsibility for contributing to the subprime crisis by having been deliberately too lax in the ratings of some structured products. In response to this accusation, CRAs argue that such an attitude would be too dangerous for them,...