"While there was never any explicit directive to lower credit standards, every missed deal had to be explained and defended," said Eric Kolchinsky, who once ran the Moody's unit that rated subprime collateralized debt obligations and has become a "whistleblower" against Moody's alleged faults.
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Some former Moody's analysts said they felt intimidated by bosses to assign rosy ratings to risky debt products, according to testimony to a government panel probing the causes of the financial crisis.
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