http://wikiless.i2p/wiki/Bond_credit_rating?lang=en
This arrangement has been cited as one of the primary causes of the subprime mortgage crisis (which began in 2007); some securities, particularly mortgage-backed securities (MBSs) and collateralized debt obligations (CDOs), were rated highly by the credit ratings agencies and thus heavily invested in by many organizations and individuals, but were then rapidly and vastly devalued due to defaults, and fear of defaults, on some of the individual components of those securities, such as home...