What To Do If You Are Refused A Personal Loan
It has become increasingly difficult for individuals to be accepted for personal loans or other form of credit, as banks, ... file from one of the three major credit rating agencies (details of which can be found ... and repair their credit record, giving them a better chance of success in three months time, when they re [more...]
Date: 2009-01-05 16:55:20
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Throwing Pennies Down A Drain
Some housing bubble news from Wall Street and Washington ... . Today, the SEC released its report on credit rating agencies and their role in the subprime mess. Moody ... s first annual report on the credit rating agencies since Congress gave it express oversight in 2006 [more...]
Date: 2008-07-09 18:36:25
More Pain For Humiliated SEC After Disclosure It Ignored Moody’s Whistleblower Warnings
Zero Hedge As if the SEC could be humiliated any more, another piece of disclosure now highlights that Mary Schapiro’s useless organization was unresponsive to whistleblower overtures by former Moody’s employees attempting to warn the regulator “about Moody’s weak compliance department and ratings process.” From Reuters : A congressional panel will expand its examination of credit rating agencies to look at why U.S. [more...]
Date: 2009-09-30 18:57:17
Mexico May Avoid Credit Rating Downgrade, JPMorgan Says
Mexico may stave off a credit- rating downgrade, JPMorgan Chase & Co. said. “From our conversations with the rating agencies, they appear to be giving Mexico the benefit of the doubt and will likely wait to see what components of the fiscal reform are approved by Congress,” JPMorgan analysts led by Joyce Chang wrote in a report to clients. [more...]
Date: 2009-09-29 16:44:07
Appraisal and Ratings Fraud Documented
From Mario Kenny — see comments posted to blog As we have stated repeatedly, the logistics were simple: (a) ... community-based orgarizations that promote access to basic banking services, including credit and savings ... NRSROs’), more commonly known as credit rating agencies (”CRAs”), substantially contributed [more...]
Date: 2008-12-01 15:58:17
GM Plus Chrysler Equals Survival?
The automakers may try to salvage one healthy company out of two sick ones General Motors (GM) ... . General Motors shares have been trading at 50-year lows this week as credit-rating agencies Standard ... getting loans for new cars amid the credit crunch and GM has increased cash-back incentives. GM [more...]
Date: 2008-10-11 22:41:37
THE FINTAG NEWSLETTER @ 09 December 2008
FINTAG COMMENT Confidence. There are a lot of unconfident people around. Existing frameworks, values and modus operandi are under attack ... and compared to other company statistics. Credit Rating Agencies did the same and rubber stamped ... to be nothing but ratings-for-hire, analysts, bankers, creditors and traders have turned to Credit [more...]
Date: 2008-12-09 10:34:00
How to Safely Restore Your Credit Rating
If you have been trying to repair your credit and have had problem credit in the past such as late credit card payments, ... credit cards that were turned over to a collection agency or even a home foreclosure, these effects may have lead to a derogatory rating on your credit report. Keeping multiple high balances ... [more...]
Date: 2009-01-03 03:30:08
Add Your Comment:
« PreviousA bolder approach to credit-rating agency reform Next »Let the Great Rebalancing Begin The Fed's Wall Street pay fix Posted by Justin FoxFriday, September 18, 2009 at 4:02 pm 11 Comments • Trackback (9) • Related Topics:Wall Street, banks, executive pay, regulation I was a little nonplussed this morning when I read the not-very-shocking WSJ article that came with the shocking headline, "Bankers Face Sweeping Curbs on Pay." In the pre-Murdoch era that would have been a 600-word [more...]
Date: 2009-09-18 20:02:27
When You Are Eligible For A Free Credit Report
By Federal law, you are entitled to one free credit report per year directly from a credit-reporting agency only if you certify that: 1 ... to know, whether you need a new credit card, an auto loan, or a mortgage. Lenders use your credit scores ... to obtain the best rates. Bad credit costs thousands of dollars! About The Author Virginia Broobin [more...]
Date: 2008-12-27 07:59:27
India’s inflation at seven-year high of 8.75 percent
New Delhi, June 13 (IANS) In what is more bad news for the hard-hit ordinary citizen, industry and policy makers alike, ... prices,” said D.K. Joshi, chief economist of rating agency Credit Rating Information and Services [more...]
Date: 2008-06-13 08:57:37
A HUGE Currency Rally!
Gaza bombing has dollar on the run… More proof we’re turning Japanese… Adding to the debt burden… What will deflation do for the dollar? ... they’re just going to get worse, and that spells bad times for the dollar… Eventually… I did a lot ... to dig the economy out of recession, said Akio Mikuni, president of credit ratings agency Mikuni &amp [more...]
Date: 2008-12-29 15:45:39
Chinese banks facing risks from bad loans
China’s lenders may have evaded the worst of the global credit crisis so far, but they are facing plenty of risks of their own, economists with credit agency Fitch Ratings said Friday. A larger-than-expected downturn ... , which have boosted lending at the government’s behest, will see an increase in problem loans, said [more...]
Date: 2009-01-16 09:39:30
Who’s At Fault for Economic Crisis - Everyone: Tom Friedman
I would encourage everyone to read Thomas Friedman’s column in the New York Times today. Along those same lines check out PBS’ Now and their report on the credit rating agencies ... , with nothing down and nothing to pay for two years; people who had no business pushing such mortgages [more...]
Date: 2008-11-26 14:57:32
The Lost Decade: How the U.S. Financial Crisis Resembles Japan’s Ten Years of Misery - And How to Play it
If you think the “Lost Decade” Japan endured during the 1990s was deep and painful, stick around: ... were ignited by laughably loose credit policies, smoldered under a lack of oversight from government regulators, market analysts or such private-sector sentinels as credit-rating agencies, and were [more...]
Date: 2008-07-17 14:49:31
Balls to 2009
Okay, nth time lucky. Hopefully I'll finish this bastard Balls to 2009 post this time ... As We Know It and How to Repair a Broken Financial World, well good on you. The recommendations in the latter article ... . Of course to take the piss out the ratings agencies. And why are Credit Default Swaps still legal [more...]
Date: 2009-01-17 03:20:00
Spain on Credit Watch
The international rating agency Standard & Poor’s announced last Monday January 12 that it had issued a downgrade warning on Spain’s triple-A sovereign rating. The news came as a surprise for the Spanish political elite, but was no surprise for investors in view of the increasing yield spread between the Spanish ten-year bonds [more...]
Date: 2009-01-17 16:22:01
Shocked, Shocked by Financial Breakdown
"I still don't understand what happened." (flickr) A congressional hearing on federal regulators’ role in the financial crisis began with a ... -comings of the credit rating agencies. While those hearings often featured disgraced financial [more...]
Date: 2008-10-24 00:04:21
2018 - A Vision of the Future
One rainy day earlier this summer, nGenera’s Gov 2.0 Program Director, Dan Herman, locked three summer interns in a room (Ben and Jude, and I) ... now mandatory for any agency that received government funds. They gave citizens access ... account from UniBank. It had low credit rates and high savings rates. Donald thought it sounded good [more...]
Date: 2008-08-14 14:35:13
U.S. Telecom and Cable Credit Profiles to Weaken in 2009
Debt ratings agency, Fitch has updated a ratings report issued last month and now says that it expects that revenue growth will be negatively impacted by growing local exchange carrier access line [more...]
Date: 2009-01-11 21:21:17
Tips on buying Memphis Home
by S. Kim When it comes to buying a home this can prove to be a very stressful period in our lives ... from the credit reporting agencies (Experian for example). Now go through them and if you see any ... at a good rate it is important that your credit history looks good. Therefore a few months before [more...]
Date: 2009-01-17 14:51:05
South Asians Flee Dubai as Economy Slows
Dubai police have found at least 3,000 automobiles -- sedans, SUVs, ... -rating agencies recently have revised downward the outlook -- and in some cases, the credit rating ... from South Asia who have lost their jobs after Dubai's real estate crash, according to a DNA report. Dubai [more...]
Date: 2009-01-16 18:13:55
The Government of Dubai Will Need $19 Billion Dollars in Loans to Stay Afloat This Year
Dubai’s refinancing needs to touch $15b http://archive.gulfnews.com/articles/09/01/16/10275943 ... refinancing requirements in 2009 are expected to touch $15 billion (Dh55 billion), according to credit rating agency Moody’s in its latest report. This is nearly half of the total refinancing requirements [more...]
Date: 2009-01-17 06:42:07
Home Buying 101 - Step Two: Know Thy Credit
This is the second in my Home Buying 101 Series, now updated for 2009 ... rates. Your credit report will also affect the rates you pay for auto and home insurance ... for credit cards, loans, medical bills, leases, anything reported to a collection agency, liens [more...]
Date: 2008-12-30 21:06:36
Tips on buying Memphis Home
by S. Kim When it comes to buying a home this can prove to be a very stressful period in our lives ... you can obtain for free from the credit reporting agencies (Experian for example). Now go through them ... to get what you want at a good rate it is important that your credit history looks good. Therefore a few [more...]
Date: 2009-01-17 15:03:29
Mark Thoma on the Risk Premium
He writes, Tyler Cowen focuses on the misallocation of risk due to government induced moral hazard ... , that raised the demand for AAA and AA securities. The primary misperception was the view taken by rating agencies, and probably by the key sellers of credit default swaps, that house prices could never fall [more...]
Date: 2008-12-28 13:40:02
Rating agencies protest broader oversight
* U.S. House panel eyes more liability for credit raters * Moody's says some fees could be revealed to regulators * Liability change would spur frivolous lawsuits-industry (Adds comments from hearing, context) WASHINGTON, Sept 30 (Reuters) - Moody's Corp (MCO.N) chiefexecutive told lawmakers on Wednesday that his credit ratingfirm may agree to disclose some of its fees to regulators, butopposes a plan to impose greater liability on the sector. [more...]
Date: 2009-09-30 20:16:51
5 Financial Crisis ‘Aftershocks’ You Must Prepare For Today
Investors are fleeing the stock market as the rules of the game keep changing ... , credit providers, rating agencies and others all work to change the way business is conducted – [more...]
Date: 2008-11-18 15:11:39
Buying Memphis Home
By S. Kim When you are buying a home this can be a very stressful period in your lives ... you can obtain for free from the credit reporting agencies (Experian for example). Now go through them ... to get what you want at a good rate it is important that your credit history looks good. Therefore a few [more...]
Date: 2009-01-14 20:13:24
Bloomberg: Blame the Ratings Agencies (Part II)
Last night, we looked at the first part of the special investigation from Bloomberg -- and noted its a must read! ... trillion of loans to homebuyers with bad credit and undocumented incomes from 2002 to 2007. Investment ... Here is part II: In August 2004, Moody's Corp. unveiled a new credit-rating model that Wall [more...]
Date: 2008-09-25 23:30:00
Troubling Signs From Fed's Jackson Hole Conference
It's hard to discern what took place in a closed-door session at a remove, ... U.S. mountainside symposium today with a sense there's not much more they can do to repair credit ... of transparency; bad incentives; the central, problematic role of conflict-ridden rating agencies [more...]
Date: 2008-09-01 08:39:56
Bond issuer upgrades look set to increase
Bond issuers poised for a credit-rating upgrade have exceeded the 12-month average for the first time in two years, according to Standard & Poor's in a report that signals improvements in the global economy.The ratings agency said 174 global iss ... [more...]
Date: 2009-09-29 17:48:20
It was the best of times… it was the worst of times…
Well, okay, not literally… but some of us might, I think, ... that it may cut Ireland’s triple-A rating for its sovereign debt due to the sharp deterioration in the public finances. This warning of a credit downgrade was followed up some days later by the agency [more...]
Date: 2009-01-15 20:06:44
Fixing Credit Rating Agencies
And now for something completely different... I read yet another story on how the credit rating agencies (Standard and Poors, Moodys, Fitch, et al.) failed at their task of rating credit instruments (bonds, derivatives, etc.) to reflect the risk of those instruments. The credit rating business works like this: Companies that want to issue [more...]
Date: 2008-11-18 11:29:00
SEC Takes Chapter From Pontius Pilate on Rating Agency Regulation
When Pilate saw that he could prevail nothing, but that rather a tumult was made, he took water, and washed his hands before the multitude, saying, ... has similarly decided to avoid the thorny question of the rating agencies' culpability in the credit ... , skill, and resources to perform credit analysis. The real problem with ratings agencies [more...]
Date: 2008-06-24 09:36:07
UAE banks assigned negative outlook
Financial Times: Moody’s Investors Service, the credit rating agency, has placed the United Arab Emirates banking sector on a negative outlook, ... . However, the credit rating agency added that UAE banks generally enjoy strong economic fundamentals, were ... . ... Tightening credit conditions, liquidity constraints, a collapse of regional equity markets [more...]
Date: 2009-01-15 16:23:15
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