Well, we've seen Fitch and Moody's weigh in on rating the Canadian Tier-1's of late.
There's another rating agency out there, S&P, which is now being sued for the glowing ratings that they gave US mortgage debt a couple years back.
Which begs the question, who rates the raters?
Well, Fitch just downgraded S&P based on their exposure to liability for the glowing ratings that they assigned to packaged US mortgage debt. So there you go, one rater rating a rater.