RE RATING AGENCIES AND GOLDMAN LAST MAN STANDING ETC

I listened to part of history of ratings agencies on NPR yesterday.


It seems that several private companies took much of their work from the SEC, back in the day. Moody's set the pace.


A little laissez faire privatization, somehow gone terribly wrong. Sound familiar?


Of course Justice goes for weak low hanging fruit (now- outsourced private rating agencies), 


and leaves the big boys strictly alone, where political, and market, influence can deter the outset of any serious quasi criminal investigation. 


As the interviewee in the referenced video points out, they (it: last man standing) are to be treated rather like juvenile delinquents:


http://www.realecontv.com/videos/banking-malfeasance/goldman-sachs---too-big-to-prosecute.html


does that tell you anything about 'risk', 


'last man standing' imagery, 


now, going forward?


Terms search rating agencies, The Big Short, Liar's Poker, Michael Lewis, Popper, Wittgenstein, etc.