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Ratings Agencies

Why We Need a National Ratings Agency for Financial Products

Sanjay Sanghoee | Posted 04.24.2013 | Business
Sanjay Sanghoee

Our financial institutions would benefit from an independent body not beholden to anyone since the ratings on their products would be truly credible to investors and free of the taint that has attached itself to the business.

Moody's May Face Lawsuit Too, Sources Say

Reuters | Posted 02.07.2013 | Business

By Aruna Viswanatha and Luciana Lopez (Reuters) - The Justice Department and multiple states are discussing also suing Moody's Corp for defrauding...

Downgraded: Why S&P Should Admit its Mistake

Sanjay Sanghoee | Posted 04.09.2013 | Business
Sanjay Sanghoee

Only then, once it has made sincere amends to the country for its deplorable actions, can it lift itself up from the muck it sank into, and regain its honor.

Ben Hallman

Wall Street Ratings Agencies Hold Weak Defense Against Financial Crisis Lawsuit | Ben Hallman | Posted 02.05.2013 | Business

For nearly four years, credit rating agencies like Standard & Poor's have tried to use the First Amendment as a shield against angry investors who hav...

Report: S&P, Moody's Inaccurately Reporting Critical Stat

The Huffington Post | Bonnie Kavoussi | Posted 08.17.2012 | Business

After bank analyst Meredith Whitney prophesied a wave of defaults by U.S. cities two years ago, many investors mocked her when her prediction failed t...

Jason Linkins

SEC 'Courageously Assails' Small Ratings Agency, Leaves Downturn Culprits Unmolested | Jason Linkins | Posted 05.03.2012 | Business

If you're like me, you may have noticed the curious way our Wall Street watchdogs tend to operate. For example, a comparison: Harry Markopolos can gif...

Illinois Attorney General Sues S&P Over Ratings, Alleges Fraud

Reuters | Posted 03.26.2012 | Chicago

* Lawsuit: S&P issued inflated ratings to boost market share * McGraw-Hill unit sued in Cook County, Illinois court * S&...

The Hate-Europe Movement Hits a Snag

Steve Kettmann | Posted 03.21.2012 | Business
Steve Kettmann

No one should underestimate the severity of the crisis gripping the Euro zone. But press speculation on the euro's demise -- often with the tone that it was about to happen -- any second! -- has been more about media fashion than understanding of Europe.

Report: Agency Ramps Up Probe Into S&P During Financial Crisis

Reuters | Posted 03.18.2012 | Business

Jan 17 (Reuters) - The Justice Department has stepped up its investigation of Standard & Poor's mortgage bond ratings during the financial crisis, t...

S&P: U.S. Downgrade Increased Risks For Other Entities

Posted 11.08.2011 | Business

NEW YORK - Standard & Poor's downgrade of the U.S. sovereign credit rating last month increased downgrade risks for other global entities, including b...

Watch: Angry Mom Flies Banner Over Wall Street

Posted 10.10.2011 | Business

Following ratings agency Standard & Poor's downgrade of the U.S. credit rating last week, a small plane flew past the company's offices in New York, t...

Stock Market Plunges. The Free-Market God Is Angry With His Followers!

Richard (RJ) Eskow | Posted 10.02.2011 | Business
Richard (RJ) Eskow

No sooner did the president and Boehner announce their agreement than the stock market fell dramatically. The all-knowing Stock Exchange, that Delphic Oracle of their cult, has looked upon their handiwork... and frowned.

S&P: Deficit Reduction Of $4 Trillion Would Be 'Good Downpayment'

Posted 09.27.2011 | Business

NEW YORK (Walter Brandimarte and Daniel Bases) - A U.S. deficit reduction plan that promises $4 trillion in savings over time would be a "good downpay...

50 Percent Chance U.S. Gets Downgraded: S&P

Posted 09.20.2011 | Business

NEW YORK (Emily Flitter and Daniel Bases) - Standard & Poor's reiterated on Thursday it sees a real risk that future U.S. government deficits may mean...

Fix Foreclosure Fraud With a Borrowers' Bill of Rights

Richard (RJ) Eskow | Posted 05.25.2011 | Business
Richard (RJ) Eskow

Isn't it time we made the most important "systemic fix" of all -- the one that repairs the broken link between a bank and the society in which it operates?

Kolchinsky vs Moody's: the Perils of Whistle Blowing

Charles H. Green | Posted 05.25.2011 | Business
Charles H. Green

There's a new whistle blower in town, and he deserves a look-see. Hhis name is Ilya Eric Kolchinsky, and the company he's blowing the whistle on is his former employer, Moody's Investors Service.

When Will the AA Batteries Run Out?

Bill Baker | Posted 05.25.2011 | Home
Bill Baker

In China, the Dagong International Credit Rating agency may be rating the U.S. "AA" for now, but if the process of instability takes over as their latest report hints, we should expect the juice in this AA battery to run out.

Sen. Feingold & Cantwell: Stay Principled and Vote Against Weak Financial Reform Bill -- But Don't Let Republicans Filibuster

Miles Mogulescu | Posted 05.25.2011 | Politics
Miles Mogulescu

The Democrats' financial reform bill is weak tea that doesn't fix the problem of too big to fail megabanks or prevent the next cycle of boom, bust and bailout.

Product Warranty Proposal for the Ratings Agencies

Kim Davis | Posted 05.25.2011 | Business
Kim Davis

An enduring mystery of the debate about regulatory reform is the extent to which the ratings agencies are a second order issue of concern.

Goldman's Blueprint for Dumping Toxic Assets: How These CDOs Were Designed to Fail

David Fiderer | Posted 05.25.2011 | Business
David Fiderer

While most of these deals remain shrouded in secrecy, one of them, Anderson Mezzanine Funding 2007, Ltd. lays out its blueprint in sufficient detail so that we can pinpoint how and why this transaction's failure was assured.

Are Ratings Agencies Protecting the UK and US Like They Did With Mortgage Debt?

Damien Hoffman | Posted 05.25.2011 | Business
Damien Hoffman

Yesterday, S&P (MHP) reiterated the UK's AAA credit rating. That rating alone shows just how little the ratings agencies have changed since they abetted the CDO scams.

How the Bond Raters Took Over the World

Bob Samuels | Posted 05.25.2011 | Business
Bob Samuels

Not only do bond rating agencies rate countries and businesses, but they also rate universities, and a careful examination of their rating reports shows that their seemingly neutral analysis is often full of neoliberal beliefs.

The National Interest

Max Fraad Wolff | Posted 05.25.2011 | Business
Max Fraad Wolff

Legislative and media attention is rotating from health care to financial reform. Yet few are talking about the balance sheet of the Federal Government. Historically they don't. We have seen this story unfold before.

The Times Story On Goldman's Role in AIG's Downfall Is More Damning When Placed In Context

David Fiderer | Posted 05.25.2011 | Business
David Fiderer

Placed in a broader context, the front page story The New York Times is even more damning of Goldman Sachs than readers might realize. Goldman played...

How Moody's Sold Its Rating - And Sold Out Investors

McClatchy | Kevin G. Hall | Posted 05.25.2011 | Business

As the housing market collapsed in late 2007, Moody's Investors Service, whose investment ratings were widely trusted, responded by purging analysts a...