>If anything, they were morally bound to forgive the debt in it's entirety
well, that's debatable. Imagine the consequence if agencies were obliged to forgo demands like that. They would do the opposite of what they set out to do, which they surely deem highly immoral.
Given the massive bailout provided by the taxpayers - to say nothing of total de facto immunity from criminal prosecution - yeah, writing off the economy-chocking overhang from the credit bubble is the least that should be expected.
well, that's debatable. Imagine the consequence if agencies were obliged to forgo demands like that. They would do the opposite of what they set out to do, which they surely deem highly immoral.