@economics_that_works
It is an abdication of basic fiduciary responsibility. The GFC was a product of the auditor sector, giving up, analyzing the financial instruments that led to the crash.
They basically didn’t want to appear stupid and when the instruments became impossible to value, they just gave up and copied the assessment other people made.
In the current case, the market doesn’t even care about basic solvency. This is a completely different level of impunity and irresponsibility.