Levin Underplayed News Today

Inflated ratings, or quit their jobs. senator levin of michigan, chairman of the committee that held the hearing, calling the entire system an inside job. >> the credit rating agencies were operating with an inherent conflict of interest. because the revenues they pocketed came from the companies whose securities they rated. its like one of the parties in court paying the judges salary, or one of the teams in a competition paying the salary of the referee. >> the s.e.c.s oversight of the credit ...

California republican who earlier this week wrote a letter to the s.e.c. chairman, saying the goldman sachs lawsuit neatly coincided with the white houses push for financial reform. lets call in ezra klein with "the washington post." good evening. >> good evening, keith. >> a system in which analysts are paid for their reviews by the companies they are reviewing. does it take a genius to figure out that was a system waiting to be abused and spectacularly so? >> no, it doesnt. i thought senator l...