Brilliant news reported by Marketwatch… new rules are coming… sounds excellent…
~~~ “Commissioners expected to vote unanimously to pass new conflict-of-interest regulations
WASHINGTON (MarketWatch) - The Securities and Exchange Commission is scheduled to take steps on Wednesday to expand its oversight of controversial credit rating agencies, which have been criticized for contributing to the financial crisis.
Commissioners [...]
Wednesday, November 12, 2008
From WSJ.com ~~~~ ” WASHINGTON — The Securities and Exchange Commission is expected to vote for rules next week aimed at limiting conflicts of interest at credit-rating firms, but it isn’t expected to adopt more substantial changes for the time being.
The rules would bar ratings companies from having the same officials negotiate fees with clients [...]
Wednesday, November 12, 2008
“Thou pendulum betwixt a smile and tear” Lord Bryon
AP reports ~~~~ ” … The EU’s financial services chief Charlie McCreevy said the “very exacting rules” were needed to restore confidence in ratings. Complex investments that turned out to be far riskier than originally rated have played a role in unleashing the global financial crisis.
The [...]
Wednesday, November 12, 2008
Short clip (running time ~ 1:40 minutes) from Bloomberg describing Moody’s view of defaults for speculative grade bonds (Ba1 and lower)… Moody’s sees defaults rising sharply… this was certainly expected when excess liquidity was withdrawn from the economy…
So how do investors with big risk appetites swim through the high yield ocean? Good question…
Monday, November 10, 2008
AP is reporting that the EU is proposing regulations for credit rating agencies on Wednesday… I bet the SEC will be issuing the Final Rule for NRSROs soon also… somehow I think there is some international coordination going on… which is good considering the global scope of activities of the raters…
~~~~ “ EU moves toward regulating [...]
Transparency for credit rating agencies
View SlideShare document or Upload your own. (tags: congress credit)
The quant view of global corporate credit quality…
~~~~ “Kamakura Corporation announced Monday that the Kamakura index of troubled public companies deteriorated in October at the sharpest rate since the index began in January 1990.
The Kamakura global index of troubled companies jumped by a record 5.6% from 16.4% of the public company universe to 22.0% [...]
Thursday, October 30, 2008
The retired policemen of Louisiana are going to get themselves some justice…
They are funding the pursuit and destruction of corruption…
The Louisiana Municipal Police Employees Retirement System is suing Moody’s and here is what they say… from WSJ.com
~~~~ “As a result of defendants’ misconduct, trillions of dollars of highly risky securities were sold to investors that should [...]
Thursday, October 23, 2008
From BBG…
~~~~ ” California’s Lockyer Chides Raters Over Delay in Muni Overhaul
By Michael B. Marois
Oct. 21 (Bloomberg) — Moody’s Investors Service and Fitch Ratings are wrong to delay plans to change how they grade U.S. municipal bonds because of turmoil in global financial markets, California Treasurer Bill Lockyer said.
The upheaval on Wall Street should be an impetus [...]
Thursday, October 23, 2008
Bobsguide reports… Excellent stuff…
~~~~ ” BondDesk Group LLC, a leading odd-lot fixed-income electronic trading platform announced today that it has partnered with IDC Financial Publishing, Inc., one of the nation’s leading analysts of all government-reporting financial institutions. The new partnership will allow traders and financial advisors to view bank ratings and other financial metrics developed by [...]