Carl Levin actually said...

So, in this case, these ratings were downgraded within a year and are now below investment grade. These are junk.

Levin criticized the rapid downgrade of ratings to junk status.

04/22/2010

More Carl Levin Quotes

He says it is at risk due to pressure from bankers.

Yes. I tell you, these emails are, I think, just devastating as to the kind of culture that was going on here.

Pressure by the investment bankers on your analysts. Pressure applied by managers at Moody's to maintain market share.

So market share mattered, in a nutshell.