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Why Did Some Economists and Policymakers Think Ratings Agencies Had

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Essay

Why did some economists and policymakers think ratings agencies had a conflict of interest leading up to the Financial Crisis of 2007-2009?


Definitions:

Emotion

A complex psychological state involving an individual's subjective experience, physiological response, and behavioral or expressive response.

Fear

An emotional response to a perceived threat, which prepares the body for fight or flight.

Posttraumatic Stress Disorder

A psychological disorder characterized by severe anxiety, flashbacks, and other symptoms following a traumatic event.

Trauma

A deeply distressing or disturbing experience, which can cause long-lasting psychological impact, including PTSD.

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