My Week If there was any justice in the financial world, the people who run the big debt rating agencies would be hanging from lamp-posts along with the investment bankers for the way in which their activities contributed to the 2008 financial crash. But they emerged pretty well unscathed, barring a few uncomfortable sessions before congressional committees. Politicians threatened all sorts of legislative nasties at the time, but it turned out to be all sound and fury signifying not very much.
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Tuesday 02 August 2011
In one place for your convenience, the current positions of the three main credit rating agencies on long-term US government debt.
Tuesday 02 August 2011
The fight to save the US's AAA rating is just beginning, with huge implications for the global economy
Saturday 30 July 2011
US Outlook: Barack Obama's rhetorical gifts used to be channelled to soaring optimism. Two years in Washington and he can manage only pithy cynicism. The US may lose its triple-A credit rating, he says, "because we lack a triple-A political system".
Thursday 28 July 2011
Tuesday 26 July 2011
What is a debt ceiling?
Saturday 23 July 2011
The estate of civil rights pioneer Rosa Parks is facing bankruptcy, with historically important items of memorabilia at risk, papers filed in a Michigan court allege.
Saturday 16 July 2011
US Outlook: Less than three years after the collapse of Lehman Brothers, a second financial crisis is now more likely than not. Against the backdrop of calm equity markets and a positively sanguine bond market, I know this makes me sound like Chicken Little. But let me explain.
Friday 08 July 2011
Manuel Barroso has become the latest European politician to take a swipe at the credit rating agencies. The president of the European Commission this week suggested that the timing of Moody's latest downgrade of Portuguese debt was "questionable" and implied some sort of anti-European conspiracy from the three large US agencies.
Thursday 07 July 2011
Outlook "Don't shoot the messenger." That is how one might summarise the response of the credit ratings agencies to the torrents of abuse hurled their way yesterday bygovernment officials in Greece and Portugal – on the wrong end of pronouncements from the agencies in recent days – as well as leading figures in Germany and the European Commission.
Tuesday 05 July 2011
Friday 17 June 2011
Outlook Moody's, the credit ratings agency, has an interesting take on the banking reforms unveiled by the Chancellor this week. While the aim of George Osborne's ring-fencing proposals is to make the banking sector safer, Moody's says it will actually be more likely to downgrade the ratings it gives leading banks if the reformsproceed as expected.
Thursday 09 June 2011
Britain's cherished AAA credit status is under threat from the faltering recovery and higher than expected public borrowing, ratings agency Moody's warned yesterday.
Wednesday 25 May 2011
The tougher regulatory backdrop in the UK could trigger a ratings cut for up to 14 financial institutions, including the Royal Bank of Scotland and its part-nationalised peer, Lloyds, the credit ratings agency Moody's warned yesterday.
Monday 23 May 2011
Eurozone debt woes and fears over low consumer demand in the United States triggered big losses for the London stock market today.
Thursday 28 April 2011
Standard & Poor (S&P) yesterday threatened to cut Japan's sovereign credit rating again just three months after it last downgraded the country's debt.
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