Saying "AAA bonds will cause a crisis" is like saying "Homeowners' mortgages caused the mortgage crisis". They're an essential part of the situation, but the actual cause was the misrepresentation of the riskiness of the securities, due to capture of the rating agencies by their customers, the securities issuers.

Is there a term analogous to "regulatory capture", for capture of non-government organizations like rating agencies by the subjects of their ratings?