Financial Regulatory Forum

ANALYSIS-Credit rating agencies should not be dupes

By Reuters Staff
May 14, 2010

By Dan Wilchins

NEW YORK, May 13 (Reuters) – New York Attorney General Andrew Cuomo is looking at whether investment banks duped credit rating agencies, but a bigger question is why the rating agencies failed to prevent the financial meltdown.

U.S. Senate panel releases documents on credit raters’ role in Abacus, financial crisis

By Reuters Staff
April 23, 2010

The Senate Permanent Subcommittee on Investigations released a trove of internal messages and other exhibits from its look at the role credit-rating agencies played in the financial crisis, including several related to the Goldman Sachs Abacus trades at the heart of SEC fraud charges against the bank .  Reuters links to full file of exhibits.

ANALYSIS-German ratings agency idea a tough challenge

By Reuters Staff
October 28, 2009

LONDON, Oct 28 (Reuters) – The German government’s idea for a new European-based credit rating agency comes at a vulnerable time for the tarnished sector but such a body will have to offer more than a copycat service if it is to succeed.

Moody’s secretive nature described to Congress

October 1, 2009

moodys    By Rachelle Younglai
    WASHINGTON, Sept 30 (Reuters) – Lawmakers slammed a “culture of secrecy” at Moody’s <MCO.N> and expanded a credit ratings industry probe to find out why securities regulators ignored a tip that Moody’s managers routinely put profits above
ratings quality. (more…)

Congress to examine SEC failure to probe warnings on Moody’s

By Reuters Staff
September 30, 2009

Committee Chairman Edolphus Towns (D-NY) (C), ranking member Rep. Darrell Issa (R-CA) (L) and Rep. Dennis Kucinich (D-OH) (R) talk to reporters after a hearing of the House Oversight and Government Reform Committee on Capitol Hill in Washington, June 25, 2009.    REUTERS/Jonathan Ernst    (UNITED STATES POLITICS BUSINESS) (FILE) WASHINGTON, Sept 30 (Reuters) – A congressional panel will expand its examination of credit rating agencies to look at why U.S. securities regulators ignored warnings from former Moody’s Corp executives about the company’s weak compliance department and ratings process.

US Treasury warns on credit ratings regulation

By Reuters Staff
August 5, 2009

WASHINGTON, Aug 5 (Reuters) – The Obama administration is resisting calls to get involved with ensuring that credit ratings are reliable and said on Wednesday this would force investors to rely even more on the ratings. (more…)