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Please just solve part C Show all steps of your work clearly to ensure partial credit. a. (3 points) Describe the role that Credit Rating

Please just solve part C

Show all steps of your work clearly to ensure partial credit.

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a. (3 points) Describe the role that Credit Rating Agencies (CRAS) played during the 2008 financial crisis. b. (3 points) Why does the current system encourages issuers to engage in "ratings shopping"? C. (4 points) Propose a solution to fix this part of the financial industry. Discuss benefits and costs of your proposal

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