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+-   Coding error responsible for Moody's debt ratings on Tuesday May 20 2008, @08:33PM Anonymous Coward

Submitted by Anonymous Coward on Tuesday May 20 2008, @08:33PM
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An anonymous reader writes "The Financial Times has the story that billions in incorrect AAA ratings given out by Moody's were the result of a coding error in its computer models. "Internal Moody's documents seen by the FT show that some senior staff within the credit agency knew early in 2007 that products rated the previous year had received top-notch triple A ratings and that, after a computer coding error was corrected, their ratings should have been up to four notches lower." http://www.ft.com/cms/s/0/0c82561a-2697-11dd-9c95-000077b07658.html"
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