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Credit Rating Agencies

End the Credit Rating Addiction

John Kiff | Posted 05.25.2011 | Business
John Kiff

One of the earliest take aways from the global financial crisis was the importance of access to information for effectively functioning financial markets. And, in that regard, credit ratings can serve an incredibly useful role -- in theory.

William Alden

'Corporate Bloodletting' Subsides As Default Rate Returns To Pre-Crisis Levels

HuffingtonPost.com | William Alden | Posted 05.25.2011 | Business

Good news for corporations and the people who lend them money: The corporate default rate will likely drop to a pre-crisis level by year's end, accord...

SEC Threatens Credit Rating Agencies With Fraud Charges

AP | MARCY GORDON | Posted 05.25.2011 | Business

WASHINGTON — The Securities and Exchange Commission has declined to seek fraud charges against Moody's Investors Services over its ratings of ri...

Moodys: Banks' Credit Ratings Won't Change -- At Least Not Immediately

AP | Posted 05.25.2011 | Business

New York — Moody's Investors Service on Friday said the deal reached in Congress on the financial reform bill will not prompt it to immediately chan...

Abolish the Rating Agencies

Jerry Chautin | Posted 05.25.2011 | Business
Jerry Chautin

Why do institutional investors need the rating agencies to tell them the quality of their investments? In my opinion they don't.

N.Y.Times Op-Ed Impugns Financial Reform by Imagining Fannie Is Just Like Wall Street

David Fiderer | Posted 05.25.2011 | Business
David Fiderer

John Carney's New York Times op-ed piece is a tour de force, a paean to nonsensical thinking. He ignores the Fannie and Freddie of the real world. Instead, he goes after the Fannie and Freddie that exist only in his imagination.

An S.E.C. Lawsuit Does Little to Strip Away the Secrecy Surrounding Certain AIG CDOs

David Fiderer | Posted 05.25.2011 | Business
David Fiderer

A month ago, the S.E.C. alleged in a complaint that Thomas C. Priore's firm made all sorts of fraudulent transfers for the benefit of himself and ICP, at the expense of investors in the Triaxx CDOs.

DK Matai | Posted 05.25.2011 | Business
DK Matai

Editor's Note: This post has been removed from the Huffington Post....

Highlights Of The Financial Overhaul Bill (PHOTOS)

HuffPost/AP | Posted 05.25.2011 | Business

Congress just passed a sweeping overhaul of America's financial regulatory system. The financial bill cleared the Senate by a vote of 60 to 39, and ...

Moody's CEO, Berkshire Hathaway Dumped Shares The Day SEC's 'Wells Notice' Arrived

Clusterstock | Henry Blodget | Posted 05.25.2011 | Business

We suspect Moody's investors will also be interested to know that CEO Raymond McDaniel dumped 100,000 shares of stock at $29 a share the day the Wells...

Spain Is Not Close to Bankruptcy: Amalgamation Should Not Mean Contagion

Georges Ugeux | Posted 05.25.2011 | Business
Georges Ugeux

I happened to be in Madrid last week on the day Spain was downgraded. It was portrayed by the media as a catastrophic situation. Now is not the time for over dramatization.

Goldman Sachs Credit Rating Threatened By Fitch

AP | Posted 05.25.2011 | Business

NEW YORK — Fitch Ratings said Wednesday that Goldman Sachs' recent legal troubles and the evolving regulatory landscape might lead the agency to...

In Europe Crisis Credit-Rating Agency Warnings Still Carry Influence

AP | STEVENSON JACOBS and DANIEL WAGNER | Posted 05.25.2011 | Business

NEW YORK — The downgrading of European debt is turning up the heat on the firms that issue the ratings. Some European officials are calling for...

Reagan Was Wrong: The Nine Most Terrifying Words Are, "I'm a Libertarian and the Market Will Save You"

Mitchell Bard | Posted 05.25.2011 | Politics
Mitchell Bard

I don't agree with Reagan. I'm not scared of the government trying to help. But I am terrified of an unfettered free market.

The Death Squad of the Consumer: the Credit Scoring Agencies

Georges Ugeux | Posted 05.25.2011 | Home
Georges Ugeux

It is rather strange that, in the fury of the abuses by credit card issuers, little attention has been paid to those who, on behalf of the banks, ha...

Nothing Should Be Random About Rating Agency Assignments

Sue Allon | Posted 05.25.2011 | Politics
Sue Allon

Franken's measure was creative, but the diverse range of qualifications among the approved rating agencies is frightening to contemplate if a random assignment was the norm.

Yielding To Wall Street, Credit Raters 'Drink The Kool-Aid'

Huffington Post Investigative Fund | Ben Protess | Posted 05.25.2011 | Business

In the lead up to the financial meltdown, Wall Street firms routinely exerted influence on the nation’s largest credit rating companies— which jud...

Shahien Nasiripour

Moody's Slapped With Subpoena: Credit Rating Agency Not Cooperating With Crisis Investigators

HuffingtonPost.com | Shahien Nasiripour | Posted 05.25.2011 | Business

The panel created to investigate the roots of the financial crisis slapped credit rating agency Moody's Corp. with a subpoena Wednesday for failing to...

John Paulson Defends His Toxic CDOs by Insulting Everyone's Intelligence

David Fiderer | Posted 05.25.2011 | Business
David Fiderer

There are countless ways to discredit Paulson's recent statements, just as there are countless ways to discredit his claim that he operated in "good faith."

Frank and Franken: The Gentleman From Massachusetts Wins One for Wall Street

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

Barney Frank won them at least two more years of a broken system, of selling highly-risky products while the agencies entrusted with evaluating the risk have an incentive to look the other way.

Bloomberg Takes a First Step at Piercing the Veil of Secrecy Surrounding CDOs

David Fiderer | Posted 05.25.2011 | Business
David Fiderer

CDOs remain shrouded in secrecy, their financial reports remain hidden from public view, unavailable to anyone except actual CDO investors. Bloomberg's coup was to pierce that veil of secrecy, and to drill down into the details of one CDO.

Good, Bad and Ugly in Financial Reform

Kathryn Wylde | Posted 05.25.2011 | New York
Kathryn Wylde

With health care out of the way, regulation of the financial industry tops the reform agenda in Washington. New York has a lot on the line.

Warren Buffett's PR DISASTER On Ratings Agency Testimony: Felix Salmon

Felix Salmon | Posted 05.25.2011 | Business

From a PR point of view -- and Warren Buffett cares deeply about his public image -- yesterday was arguably the single worst day of Buffett's life. He...

BP's Credit Rating Downgraded

AP | CHRIS KAHN | Posted 05.25.2011 | Business

...

Christina Marie Fierro

Questions Raised As Feds Look To Become More Intertwined With Credit Rating Agencies

HuffingtonPost.com | Christina Marie Fierro | Posted 05.25.2011 | Business

Senator Al Franken's proposed Credit Rating Agency Board will reward the most "accurate" credit rating agencies with more accounts, but the panel's me...