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We should have seen the Standard & Poor’s downgrade of the U.S. credit rating coming –– last year. On July 13, 2010, Dagong International, a Chinese credit rating agency, lowered the U.S.’s rating from AAA to AA. Few in the West noticed. Some laughed. Clearly, though, Dagong’s calculators saw what we could not.
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Scott Brinton
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8/12/11
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This past week I was invited to testify in Washington before the House Committee on Oversight and Government Reform. The topic was credit rating agencies and the role they played in the recent financial meltdown. Here’s what I told the committee.
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Alfonse D'Amato
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10/8/09
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