Judges with Tenure; Credit-rating Agencies  

Oleh:

[s.n]

Jenis: Article from Bulletin/Magazine
Dalam koleksi: The Economist (http://search.proquest.com/) vol. 400 no. 8746 (Aug. 2011), page 54.
Topik: Credit Ratings; Rating Services; Ratings & Rankings; Investors; Regulation of Financial Institutions

Ketersediaan

Perpustakaan Pusat (Semanggi) Nomor Panggil: EE29.67 Non-tandon: 1 (dapat dipinjam: 0) Tandon: tidak ada

Lihat Detail Induk

Isi artikel

The opprobrium heaped on ratings firms is only partly deserved. They acquitted themselves poorly in the run-up to Enron's collapse in 2001. Their number-crunching reached a nadir in the more recent mortgage debacle, which was exacerbated by their willingness to award AAA ratings to thousands of structured-mortgage time-bombs. On the debt of countries, however, their record is considerably better. In a study last year, the International Monetary Fund concluded that ratings were a reasonably good indicator of sovereign-default risk. Still, there are awkward questions to answer. Some wonder how Standard & Poor's (S&P) can rank America below France, which is knee-deep in the euro-debacle. Unfortunately, finding alternatives to ratings is proving difficult. Some suggest using credit-default-swap prices, but these too can exacerbate market swings. The biggest beneficiaries of ratings have not been long-term bond investors but the Wall Street firms that used the system to foist misrated debt on them.

Opini Anda

Klik untuk menuliskan opini Anda tentang koleksi ini!

Kembali