Relevant:
- SEC Takes Rating Agencies to Task; “Serious Shortcomings†Cited
- Another Wave of Bad News For CDOs – The Rating Agencies Are Downgrading
- Brown Launches Investigation into Credit Rating Agencies' Role in Fueling Financial Crisis
- Related topics: National Association of Insurance Commissioners (NAIC) Mortgage-backed bonds Money Management Institute (MMI) Ratings agencies under fire over residential-mortgage-backed securities
- FDIC Moves Forward On Cutting Use Of Ratings
2010-05-31 — wallstcheatsheet.com
"The Federal Reserve Bank of New York is out with a report which shows the credit ratings agencies did in fact rubber stamp “shitty†mortgage backed securities (MBS). This report is going to hurt firms like Moody’s (NYSE: MCO) which are already under investigation by the Securities and Exchange Commission. S&P (NYSE: MHP) and Fitch will be shaking too."
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