Ping!
They can’t afford to downgrade the bond insurers. The house of cards would take another hit. They will keep them rated at AAA until their losses make it apparent even to Joe6Pack. They will keep up the Charade as long as they can. This after the ratings agencies both simultaneously formally announced they “accidentally” made math errors rating MBS. It is a Ponzi scheme. As long as everybody agrees to look the other way, they all will.