The Motley Fool recently sat down with Theodore Roosevelt Malloch, professor at Yale University and author of The End of Ethics and A Way Back: How To Fix A Fundamentally Broken Global Financial System. In the video below, we discuss the ways the global ratings agencies contributed to the 2008 recession, and the ways they are flawed. To view the whole interview, click here.

Dr. Malloch explains the ways the ratings agencies function and how not much has been done to stop the conflicts these agencies have.

Brendan Byrnes has no position in any stocks mentioned. The Motley Fool recommends Moody's. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.