Ratings redux

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Blasted by regulators, investigated by US politicians on Capitol Hill, and their reputation among investors hanging in shreds - it's difficult to imagine too much else going wrong for the structured finance arms of the leading rating agencies. Following the onset of the credit crisis, countless observers have slammed the agencies for failings in their rating methodologies for collateralised debt obligations (CDOs). The process has been criticised as too complex, not transparent enough, overly