Moody's, S&P Were Swayed by Wall Street, Senate Probe Finds

Arturo Cifuentes, former senior vice president, Moody's Investors Service and current director of the Finance Center at the University of Chile, testifies at a Senate Homeland Security and Governmental Affairs subcommittee hearing on the role of credit rating agencies in the financial crisis in Washington, D.C., U.S., on Friday, April 23, 2010. Moody's Investors Service and Standard & Poor's were too influenced by Wall Street, had insufficient resources and used outdated models to grade mortgage securities that blew up when the U.S. housing market collapsed in 2007, Senate investigators said in a report. Photographer: Melissa Golden/Bloomberg via Getty Images