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Archive Home > 2010 > December > 23 > How rating agencies set stage for community bank failures

How rating agencies set stage for community bank failures

Imploding bonds

By Kevin G. Hall and Greg Gordon / The Bulletin
December 23, 2010

NEW YORK — Billions of dollars in top-rated bonds backed by community banks have gone bust, debunking the defense offered by credit-rating agencies that wildly inaccurate ratings were limited to risky mortgage bonds that imploded and then triggered the U.S. financial crisis.

Government....

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