The case for the defence

It has been said that rating agencies didn't receive sufficient or robust enough information on mortgage-backed structured credit to make informed ratings. In those cases, would it have been more apt for the agencies not to have assigned a rating at all? Are you requiring more data now?

We do rely on information provided by third parties and (to the degree the information is correct) we do believe it is sufficient to provide the basis for a rating, though we do not re-audit the information

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