Tuesday, February 16, 2010
Standard and Poor’s will begin using an identifier to distinguish between their ratings on structured finance products and other ratings… this is a good step forward for the markets… (H/T Credit Risk Chronicles)
~~~”As market participants will be aware, under the European Regulation on Credit Rating Agencies (Regulation (EC) No 1060/2009) in force from December 2009 (the [...]
Thursday, October 22, 2009
~~ OMG… Bird and Fortune prove Trillian’s thesis… and a few commonly held beliefs… (HT ZeroHedge)
Link to Bird and Fortune video at the Financial Times…
Wednesday, April 29, 2009
~~~~”McDaniel this month defended the credit raters’ issuer-pay model at an SEC roundtable in Washington, saying that investors can pressure ratings companies just as easily as underwriters….”*~~~~
This will become the central argument in defense of the “issuer pay” model for credit ratings agencies….
The SEC receives information from credit rating agencies as part of its Form [...]
Filed in Launching..., Open engines, Regulatory, Restructuring, Transparency
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Also tagged ABS, Bear, BofA, Citi, Congress, dealers, Fitch, Goldman Sachs, JP Morgan, Lehman, MBS, Merrill, Moodys, Morgan Stanley, NRSRO, ratings, S&P, SEC
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From my comments to the SEC on raters….
Is the proposed application of the rule to prospective credit ratings, i.e., credit ratings that are initially determined on or after June 26, 2007, appropriate and do commenter’s believe it would provide meaningful information if the rule was limited to credit ratings made on or after that date? Should [...]
Toxic assets from Marketplace on Vimeo.
Wednesday, February 11, 2009
Representative Michael E. Capuano (D-Mass) shared his anger about the disaster our financial system has become at the House Financial Services Committee hearing today… he addressed the bank leaders who were the prime creators of the crisis… he told them that “America doesn’t trust you anymore” for creating CDOs, CDS, SIVs… this chorus will grow louder…
(Running time [...]
Thursday, February 5, 2009
Good Bank vs. Bad Bank - Analysis and Discussion with Janet Tavakoli of Tavakoli Structured Finance
Running time = approx. 7 minutes
Thursday, December 11, 2008
The SEC Chairman wrote in the Wall Street Journal today about the force of free markets and regulation.
I hope that he continues to sing this song… (see his opinion piece after my comments…) I say similar things a little less diplomatically …
I think history will look back at the actions of the Federal Reserve and [...]
Tuesday, November 11, 2008
My comment in response to a WSJ.com article about a speech by CFTC Acting Chairman Lukken about reforming the financial markets regulatory structure…
% % %
Having read Commissioner Lukken’s speech where he calls for the creation of a “systemic risk” regulator I really must object to the heart of his argument… he says…
“This new (proposed) structure would require certain reporting [...]
Hubris unchecked … arrogance unleashed… gross greed.
Pirates of profit… from the New York Times article about a German bank on a rapacious route through gullible US municipal “institutional investors”…
~~~~ ” ….Mr. Bruckermann once told a trade publication that Depfa, unlike German banks, understood how to benefit from the global economy.
“With our efforts, we are like [...]