reuters.com - 5/28/2009
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* Greenlight Capital's Einhorn says shorting Moody's stock * Greenlight says credit ratings lost credibility * Einhorn says Moody's has negative net worth $900 mln * $7.2 mln Allied Capital short-sale gain goes to charity By Joseph A. Giannone NEW YORK, May 28 (Reuters) - Hedge fund manager ...
bloomberg.com - 5/28/2009
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bloomberg.com —
May 27 (Bloomberg) -- The U.S. government’s Aaa
credit rating is stable “even with a significant deterioration”
in the nation’s debt, Moody’s Investors Service said, signaling confidence in a rebound from the recession. The U.S. rating is supported ...
(more)
U.S.’s Aaa Credit Rating Is Stable, Moody’s Says (Update3)
pragcap.com - 5/24/2009
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pragcap.com —
There’s a trio of ticking time bombs in
the banking sector that the “green shots” crew just
doesn’t want to admit exists. Credit cards, commercial real estate and residential mortgage resets are the equivalent of the bully at school sitting on your ...
(more)
THE COMMERCIAL REAL ESTATE BOMB | THE PRAGMATIC CAPITALIST
fundmymutualfund.com - 5/28/2009
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fundmymutualfund.com —
Battle Royale in Moody's ( MCO ) it
appears after David Einhorn engages on the short side
versus Warren Buffet's long position. For those not familiar with David Einhorn he is a youngish hedge fund manager who exposed Lehman Brothers in a very public way - that said his hedge fund lost 22% last ...
(more)
David Einhorn versus Warren Buffet on Moody's (MCO)
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David Einhorn versus Warren Buffet on Moody's (MCO)
Fund My Mutual Fund —
... moat - but he does not use the conclusions from his investment for his own decisions. That pretty much sums up the usefulness of these major credit agencies. Remember AIG (AIG)? One of a handful of AAA rated companies this decade. Bought and paid for... What's that? Oh yes, the USA is a free market capitalist system where competition is supported and large political donors don't get government protection. Yep. More from Reuters here Einhorn contends that investors have learned not to rely on ...
Prominent Short Seller Puts Moody's in His Sights
DealBook —
... oligopoly and, often, because they are require to by law.” Mr. Einhorn used the same stage last year to announce he was betting against the investment bank Lehman Brothers. At the time, the firm had yet to announce any major write-downs and was generally considered to be healthy compared with rivals such as Merrill Lynch. His bet turned out to be profitable, as the company’s stock withered to zero when the company filed for bankruptcy protection four months later.– Cyrus Sanati Go to Article from Reuters » ...
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NY insurance official raises concerns over Moody's
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Moody's Next Epic Fail: "US Remains a Solid AAA Nation"
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Moody's Joins S.&P. in Warning on California Debt
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Blaming Moody’s
ritholtz.com 12/7/2008 —
“These errors make us look either incompetent at credit analysis or like we sold our soul to the devil for revenue, or a little bit of both.”
— A Moody’s managing director responding anonymously to an internal management survey, September 2007.
...
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