reuters.com - 9/21/2009
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Lilla Zuill NEW YORK (Reuters) - An official in the New York Insurance Department says insurance regulators from across the country are expected to discuss dropping Moody's Investors Service from a list of acceptable rating organizations at a meeting later this week. Hampton Finer, deputy ...
online.wsj.com - 9/23/2009
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online.wsj.com —
Throughout the financial crisis, major credit-ratings firms were
criticized for their overly rosy ratings of complex debt
securities, which deteriorated soon after and led to billions of dollars of investor losses. Despite months of regulatory ...
(more)
Congress Takes On Credit Ratings
marketwatch.com - 9/19/2009
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marketwatch.com —
Alert Email Print By John Spence , MarketWatch
BOSTON (MarketWatch) -- Moody's Investors Service threw cold water
on optimistic projections of a V-shaped recovery in the battered U.S. housing market, predicting it could take more than 10 years to get ...
(more)
Home prices won't regain peak this decade: Moody's
bloomberg.com - 9/22/2009
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bloomberg.com —
Sept. 21 (Bloomberg) -- Commercial real estate prices
in the U.S. resumed a “steep decline” in July
after showing signs of leveling off in June, Moody’s Investors Service said, as credit restrictions curtail lending and push landlords toward default. ...
(more)
Moody’s Property Index Resumes ‘Steep’ Fall in July ...
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NY official casts doubt on Moody’s
FT Alphaville —
US insurance regulators are expected to discuss dropping Moody’s Investors Service from a list of acceptable rating organisations at a meeting later this week, according to an official in the New York Insurance Department, reports Reuters. Hampton Finer, deputy superintendent of insurance for New York, said at the weekend that concerns about Moody’s arose after the credit-rating agency refused to attend a regulatory hearing on Thursday to answer questions about its ratings process.
New York State Insurance Dept. Calls Moody’s Bluff on Defiance
naked capitalism —
... are concerned. Those of course are far and away the most profitable to the ratings agencies.
The article misses one possibility. A judge recently issued a ruling that threatens the ratings agencies’ First Amendment exemption from liability, at least as far as ratings on complex deals are concerned. Might Moody’s be afraid of answering questions about its ratings process out of concern that it might say something that could be used as evidence in a trial?
From Reuters:
Hampton Finer, deputy superintendent of insurance for New York, told ...
Moody's Rethinks Its Social Calendar
Dealbreaker —
... Keeping pace with the growing legions who believe Wall St. firms are going to dodge the regulatory bullet and get back to their old ways, Moody's evidently believes the end of the end-of-the-world panic is synonymous with sweeping the past couple of years under the rug. After the rating agency politely declined an invitation to appear at a panel put on by the National Association of Insurance Commissioners to answer a couple questions about their robust ratings process, the insurance community warned Moody's that they plan to debate whether or not to formalize a movement many ...
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