Posts Tagged ‘rating agencies’

Calpers Sues The Rating Agencies For Bad Investment Advice

Just the first of many lawsuits of this type that will be coming down the pike but this one has some rich irony to it. Calpers, the California retirement system manager, has filed suit against Moody’s, Standard & Poors and Fitch claiming that they are responsible for over $1 billion of losses it incurred in […]

SEC Discusses Reform Of Rating Agencies

The SEC held a roundtable discussion with the rating agencies at which various fixes and new regulations were discussed. The press reports indicate that most of it was the sort of self-serving blather that usually takes place at these events but one item indicated that they may be on to something. The MarketWatch report of […]

How Failure Leads To Profit

Sometimes no matter how badlyou screw up, good things just seem to keep coming your way. The exhibit for today is the credit rating agencies. The WSJ reports that despite their abject failure to properly assess the risk of securitized loans Moodys, S&P and Fitch are in line for a big payday thanks to TALF. […]