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~~~~”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 [...]

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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? [...]

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Toxic assets from Marketplace on Vimeo.

America doesn’t trust you anymore

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 [...]

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Good Bank vs. Bad Bank – Analysis and Discussion with Janet Tavakoli of Tavakoli Structured Finance Running time = approx. 7 minutes

Free markets made America strong

[caption id="attachment_3167" align="alignleft" width="300" caption="26 Wall Street was the site of New York City's 18th century City Hall. Here John Peter Zenger was jailed, tried, and acquitted of libel for exposing government corruption in his newspaper, an early victory for freedom of the press. City Hall hosted the Stamp Act Congress, which assembled in October [...]