You’d be forgiven for asking who cares about Moody’s downgrading yesterday of 15 of the world’s biggest banks, including …
Moody’s
How the Newly Prudent Consumer Is Killing the Economy
Today’s consumers are increasingly likely to pay off credit card bills in full, skip vacations, dine out less, hold off on buying big-ticket items like new cars, and even trim everyday expenses by, say, subbing a generic cereal …
Why a U.S. Downgrade Will Hit Your Wallet Harder Than You Think
So here’s my prediction: America’s debt is going to be downgraded and the ramifications of that will be worse than many think. And don’t count me as a debt worrier. I don’t actually think the U.S.’s debt is a problem, at least …
Deal or No, the U.S. May Be Downgraded: Why Investors Can’t Rest Easy in the Short Term
At a reception this past weekend for former Secretary of State Henry Kissinger, who is promoting his new book, On China, the onetime statesman said he had never seen Democrats and Republicans so at odds. It wasn’t hyperbole. He …
Hey, Rating Agencies: Too Bad We Can’t Downgrade You!
There are many aspects of the debt ceiling talks that are untoward. The political posturing. The lack of compromise. The somewhat terrifying reality that the U.S. might not be able to pay its bills.
But one part of the whole affair is really irritating: the righteous indignation of the rating agencies.
The Shame of the Ratings Agencies: How Moody’s Blows It Again
If the economic news wasn’t bad enough after the release of yet another anemic jobs report, the highly influential global ratings agency Moody’s just announced that it was contemplating a downgrade of the U.S.’s credit rating.
Moody’s CEO gives himself a performance review and decides he’s doing an OK job
Yesterday I went to the Financial Crisis Inquiry Commission‘s hearing on ratings companies.* My story is supposed to go up on Time.com later today. (UPDATE: here it is now.) In the meantime, I’d like to share the most absurd moment from yesterday’s hearing.
One line of questioning revolved around how managers are compensated at Moody’s. …
Congress mans up on rating agency reform
[Editor's note: I wrote a story for Time.com, which is now being funneled here, to the Curious Capitalist. I might have assumed a bit more knowledge had I known it was going to wind up with you, dear readers.]
Credit ratings companies played a key role in the financial crisis by blessing the packages of sliced-and-diced mortgages that …
Congress drops the ball on ratings agency reform
Today the Senate’s Permanent Subcommittee on Investigations held a hearing on the role credit ratings agencies played in the financial crisis. These are the companies that gave high marks to securitization deals, like the one Goldman Sachs is currently being sued over, even though the underlying collateral—namely, home loans—was …
