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Prof. Richard Sylla on the monopoly power of Moody's, S&P and Fitch Ratings

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Excerpt from Bloomberg -- "'That increased the monopoly power of Moody’s and Standard & Poor’s and Fitch,' said Richard Sylla, a financial historian at New York University’s Stern School of Business .. 'It was a bad move on the part of the government. It was a big favor to the rating agencies.'"

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