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The role of the credit ratings agencies during the financial crisis of 2008 remains an extremely controversial issue, many argue they were unaccountable for their

The role of the credit ratings agencies during the financial crisis of 2008 remains an extremely controversial issue, many argue they were unaccountable for their misgiving and unethical. Credit Rating agencies have been blamed for exaggerated ratings of risky mortgage-backed securities, giving investors false confidence that they were safe for investing. Some argued that these ratings agencies were key enablers of the financial meltdown. Critically discuss the above issue with supporting references.

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