Despite their role in the GFC, for credit rating agencies, it is business as usual

Economists and financial observers have criticized CRAs for understating the risk in the sub-prime mortgage markets which they helped structure, such as sub-prime mortgage-based CDSs and CDOs. CRAs are now under investigation for giving investment-grade rating, even AAA grade, to sub-prime securities and investment vehicles, at the origin of the housing bubble that brought the whole financial system in 2008 to a near collapse, had governments and central banks not swiftly intervened to stop it from crashing.
What has been done to reform credit rating agencies so far?  Very little. Whereas a major overhaul of the credit ratings is needed, instead, a few cosmetic reform measures have been proposed, by Marwan Elkhoury; (Full article here)