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Tag Archives: ratings

Insurers concerned about NAIC pursuit of its own rating agency

  Source: BestWire Services ~~~~ “Some insurers increasingly are concerned about a National Association of Insurance Commissioners’ initiative to establish its own rating entity, fearing they could be saddled with high start-up costs and be subject to decisions made by combined regulator-raters with their own conflicts of interest. The NAIC concluded its national meeting in […]

SEC roundtable on credit rating agencies

 The SEC credit ratings roundtable will be webcast here… Here is the agenda…  and some coverage from the…

Extend Regulation Fair Disclosure to the fixed income markets

US and global bond markets have been in deep distress. The reverberations have been manifested in the worldwide banking system. Substantial public and private capital has been injected into the banking system to stabilize the largest banks and other financial institutions. Lawmakers have been examining issues in the banking and finance areas. The flow of […]

ra ra ra rating shopping

Everyone has missed the main point of the problem of the Federal Reserve mandating the use of ratings from Moody’s, S&P and Fitch for the TALF program … the problem is rating shopping… Which means that issuers of the securities that the Federal Reserve is buying have shopped around for the best ratings… selectively disclosed […]

Crowdsourcing ratings

From Fast Company… ~~~~ FreeRisk: Crowdsourcing Credit Ratings? BY Kermit Pattison  Fri Apr 3, 2009 at 11:00 AM The recent financial meltdown demonstrated that credit rating agencies were blind to the dangers ahead. Toby Segaran of Metaweb Technologies and Jesper Andersen of the Open Data Group hope that crowdsourcing and transparency can help fix this mess. They […]

Legislative oppurtunities

Bloomberg is reporting that new efforts are being made in Congress to rein in the dominant rating agencies… specifically it looks like legislation would remove the First Amendment protections that raters have stood behind when deflecting liabilities for their opinions… this would be a substantive change in the business and welcome…  ~~~~Reed Seeks Expanded Liability […]

2005 cohort

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? […]

Comments on raters

U. S. Securities and Exchange Commission 100 F Street, NE Washington, DC 20549-1090 Attention: Office of the Secretary File No.: S7-04-09; Release No. 34-57967 Re: Comment on Re-Proposed Rules for Nationally Recognized Statistical Rating Organizations (“NRSROs”) To the Commissioners and staff of the SEC: Thank you for the opportunity to provide comments on the regulation […]

SEC’s Credit Rating Agencies Roundtable announced

SEC Announces Panelists and Agenda for Credit Rating Agencies Roundtable FOR IMMEDIATE RELEASE 2009-65 Washington, D.C., March 24, 2009 — The Securities and Exchange Commission today announced the expected panelists for its April 15 roundtable relating to its oversight of credit rating agencies. The roundtable will be held at the SEC’s Washington, D.C., headquarters and will begin […]

it will be very interesting to see how social lending evolves in the future

  From Techcrunch: ~~~~ “P2P money lending service Lending Club has closed a $12 million Series B round with Morgenthaler Ventures as the lead and joined by existing investors Norwest Venture Partners and Canaan Partners. The total capital invested in the company is now $30 million. (It raised $12 million in angel and Series A funding in 2007, and then […]