The largest commercial credit rating agencies (which tend to operate worldwide) are Moody's, Standard and Poor's and Fitch Ratings.
Credit rating agencies such as Moody's have been subject to criticism in the wake of large losses in the Asset backed security collateralized debt obligation (ABS CDO) market that occurred despite being assigned top ratings by the CRAs. For instance, losses on $340.7 million worth of ABS collateralized debt obligations (CDO) issued by Credit Suisse Group added up to about $125 million, despite being rated Aaa by Moody's.
Credit rating agencies such as Standard & Poor's have been subject to criticism in the wake of large losses beginning in 2007 in the collateralized debt obligation (CDO) market that occurred despite being assigned top ratings by the CRAs.
Credit ratings of AAA (the highest rating available) were given to large portions of even the riskiest pools of loans. Investors, trusting the low risk profile that AAA implies, loaded up on these collateralized debt obligations (CDOs) that later became unsellable. Those that could be sold often took staggering losses. For instance, losses on $340.7 million worth of collateralized debt obligations (CDOs) issued by Credit Suisse Group added up to about $125 million, despite being rated AAA by Standard & Poor's.
It is also worth mentioning that Standard & Poor's apparently failed to predict the bankruptcy of all the largest Icelandic banks and a weaker position of the Icelandic Government in 2008, a country that had a very high rating until its economy suddenly collapsed.
In April 2009 Standard & Poor's called for "new faces" in the Irish Government, which was seen as interfering in the democratic process.In a subsequent statement they said they were "misunderstood."
Credit rating agencies such as Fitch Ratings have been subject to criticism in the wake of large losses in the collateralized debt obligation (CDO) market that occurred despite being assigned top ratings by the CRAs. For instance, losses on $340.7 million worth of collateralized debt obligations (CDO) issued by Credit Suisse Group added up to about $125 million, despite being rated AAA by Fitch. However, differently from the other agencies, Fitch has been warning the market on the constant proportion debt obligations (CPDO) with an early and pre-crisis report highlighting the dangers of CPDO's.
Meeting in Glen Cove, New York in July 2008, the Financial Economists Roundtable (Roundtable) discussed the need to strengthen the securitisation process by changing the incentives under which Statistical Ratings Organisations (SROs) operate.
Ką apvalus stalas nutarė, paskaitykim.
Man labiau įdomu kitkas.
SROs remained largely US-focused until the 1970s, when global capital markets began to re-emerge after fading in the interwar period.
Toks va sutapimas: išsipūtė dolerio burbulas pasaulin, išlindo aikštėn, kad moneymasteriai nebesilaiko savo pačių deklaruoto aukso standarto, ir tuomsyk prireikė SROs išlįsti iš JAV į visą pasaulį.
Idant smegenines mums pripudrinti, idant skirtinguose piramidės aukštuose mus sustatyti.
Mokam mes 6,75 procento palūkanas už dolerius, kai kiti - jokių nemoka.
action of verb "to rate" (see rate (n.)), 1534. Ratings of TV programs, originally radio programs, began 1930 in U.S. under system set up by Archibald M. Crossley, and were called Crossley ratings or Crossleys until ratings began to be preferred c.1947.
"to scold," late 14c., probably from O.Fr. reter "to impute blame," from L. reputare "to count over, reflect," in V.L., "to impute, blame".
Scold - bartis.
Blame - kaltinti.
Išbarė, apkaltino, ir stovim, galvas nuleidę.
O ko patys neatsikertam?
Kodėl nepaklausiam - o patys ką pridirbot?
Ar tikrai jie, tie Moody's, Standard and Poor's ir Fitch Ratings tokie dideli išminčiai?
Ar tik paprasčiausi moneymasterių tarnai, ne kažin ką ir temokantys?
Kas pranašesnis - laisvas žmogus ar tarnas?
Kodėl mums jų pačių nepareitingavus?
Following the fiasco of the American sub-prime mortgage crisis and the failure of credit rating companies to predict or prevent it, the European Commission has proposed tough rules designed to improve the functioning of credit rating companies (CRAs,) whose misjudgments were partly to blame for the global financial crisis. The proposals, put together during the space of a year by European Internal Market Commissioner Charlie McCreevy, are designed to “restore market confidence” by imposing strict conditions on agencies wishing to operate in the European Union. CRAs play a key role in finance by assessing the likelihood that a company or government will not pay back its debt. The safest investments typically receive an AAA rating, but they have been assailed for being asleep at the wheel and letting poor performers slide without a warning. The US-based Lehman Brothers, for instance, still enjoyed a fairly positive A2 rating from many of the world’s most influential CRAs just days before its huge exposure to the sub-prime mortgage crisis forced it to file for bankruptcy, on September 15.
CRAs play a key role in finance by assessing the likelihood that a company or government will not pay back its debt...
Prisiminkim: pinigai yra visuomenės skola pinigų valdytojams, niekada neišmokama skola.
Nes, grąžinę visus pinigus jiems, moneymasteriams, vis tiek liktume skolingi jiems.
Tai kas tada yra šitų CRAs, SROs ar NRSROs titulais pasidabinusių vis tų pačių veikėjų mums nustatomi mūsų reitingai?