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Ratings firms often wrong but still strong

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As soon as the ink was dry on the agreement to lift the debt ceiling, President Obama turned to an outside source, Fitch Ratings, to criticize Congress for allowing the government to come within days of defaulting on its debt. The ratings agency had put America’s credit rating on watch for a downgrade, citing “political brinkmanship” as a factor casting doubt on the government’s credit. “That...

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