Isn’t it true that almost none of the fraud that’s swallowed Wall Street in the past decade could have taken place without companies like Moody’s and Standard & Poor’s rubber-stamping it? Aren’t they guilty, too? Man, are they ever. And a lot more than even the least generous of us suspected.

If you require high standards a good place to look for clarity is Liz Oyer. Liz - Blanche takes down…