... different states, which proved to be wrong, resulting in a house-price slump. These pooled mortgages were used to back securities in the market, which was rated as AAA by the Moody's and Standard and Poor's; that was a huge blunder by these credit rating agencies and led to the big fall. During the same period, interest rates around the world were lower ... ...

• Word Count: 1919
• Approx Pages: 8
• Has Bibliography
• Grade Level: High School