ABSTRACT
This introduction presents an overview of the key concepts discussed in the subsequent chapters of this book. The book examines the forms and causes of misconduct in the credit rating industry, but it is important to note however that the nature of the misconduct is complex and its causes are multiple. It suggests that one key component in explaining the agencies' misbehaviour includes the fact that the largest agencies established non-essential ancillary service divisions in the lead-up to the crisis. The book aims to protect the public and make large-scale social damage a thing of the past; it is simply not an acceptable part of life that the misdemeanours of financial actors should have such a devastating impact upon the lives of citizens. It focuses on an extremely narrow section of the financial sector and that is extremely important.
