Category: Moody’s

It’s about time, five billion bucks’ worth: Part 4, A deal could sink the company

14 February, 2013 (09:00) | Enforcement, Fitch, Litigation, Moody's, Rating agencies, Regulation, Securitization, Standard & Poor's, Subprime, US News |

By:David A. Smith   [Continued from yesterday’s Part 3 and the preceding Part 2 and Part 1.]   By now readers should be in no doubt, based on my initial post on of the Department of Justice suing Standard & Poor’s, reported in the Wall Street Journal (February 5, 2013) and a review of Justice’s initial […]

It’s about time, five billion bucks’ worth: Part 3, Big enough to drive a Mack truck through

13 February, 2013 (09:00) | Enforcement, Fitch, Litigation, Moody's, Rating agencies, Regulation, Securitization, Standard & Poor's, Subprime, US News |

By:David A. Smith   [Continued from yesterday’s Part 2 and the preceding Part 1.]   In the two preceding parts of this post, using principally two articles in the Wall Street Journal (February 5, 2013) and Wall Street Journal (February 6, 2013) (blue font), we established that the Justice Department is extremely serious in going […]

It’s about time, five billion bucks’ worth: Part 2, Three types of fraud

12 February, 2013 (09:00) | Enforcement, Fitch, Litigation, Moody's, Rating agencies, Regulation, Securitization, Standard & Poor's, Subprime, US News |

By:David A. Smith   [Continued from yesterday’s Part 1.]   Yesterday’s post on the spectacle of the Department of Justice suing Standard & Poor’s, reported in the Wall Street Journal (February 5, 2013), led us to the point of examining the Justice Department’s initial brief, helpfully reported in the Wall Street Journal (February 6, 2013) […]

It’s about time, five billion bucks’ worth: Part 1, Ignored its own standards

11 February, 2013 (15:28) | Enforcement, Fitch, Litigation, Moody's, Rating agencies, Regulation, Securitization, Standard & Poor's, Subprime, US News |

By:David A. Smith   Wall Street Journal (February 5, 2013):   In what can only be vindication for a position I first advocated 5½ years ago, the Justice Department has finally stopped dithering and sued Standard & Poor’s for complicity in the subprime fiasco:   The Justice Department sued Standard & Poor’s Ratings Services late […]

Bank creditworthiness: we don’ wanna know

19 March, 2007 (09:57) | Banks, Investment, Moody's, Rating agencies, Transparency |

If someone offered you free additional information that might be relevant to a critical financial decision, wouldn’t you want it?    You don’t want to know what I’m thinking   Say you were a global institutional investor planning to buy securities issued by a major bank in a foreign country.  Similarly, if you were thinking […]