Someone didn&#x27;t learn about the de facto monopoly the SEC (federal gov&#x27;t) gave the Big Three (Moody&#x27;s, S&amp;P, Fitch) at the time of the meltdown through its NRSRO status: <a href="https:&#x2F;&#x2F;en.wikipedia.org&#x2F;wiki&#x2F;Nationally_recognized_statistical_rating_organization#Subprime_mortgages.2C_CDOs.2C_and_the_financial_crisis" rel="nofollow">https:&#x2F;&#x2F;en.wikipedia.org&#x2F;wiki&#x2F;Nationally_recognized_statisti...</a><p>The whole banking and financial system at that level has its tendrils wrapped so firmly around the gov&#x27;t (and vice versa) that a failure there is hardly an indictment of free market principles.