Maybe... but remember the story "The Emperor's New Cloths"? Only when the little boy (informant?) said that the Emperor was naked did everyone acknowledge it. It appears Moody's has been caught standing naked. One hopes good will come from this, and the firewall between issuers and raters will be reinforced. The problem has been that the issuers want good ratings, and the raters want big money, so their interest in higher than deserved ratings are in sync (collusion?).
As the investor Warren Buffett said, "When the economic tide goes out, you see who's swimming naked" Well, unfortunately for Buffett, Moody's appears to have ben swimming naked (Ironically, Buffett is one of their largest shareholders).
For now, the big players (investment banks?, banks?, mutual funds?, etc.) appear to be propping Moody's stock up to allow for an orderly exit. Where are the downgrades?
If Moody's engaged in deliberately manipulating ratings, this is sad and shameful.