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Already under intense scrutiny for its role in the credit crisis, the Moody’s Corporation said Tuesday that some employees had violated its code of conduct in rating complex European securities, The New York Times Reports.
Moody's Investors Service, a credit rating agency, said Tuesday it disciplined employees for considering improper factors when assigning ratings to complicated European debt products known as constant-proportion debt obligations.
The U.S. Federal Reserve cannot lower interest rates at the moment, given high oil prices and the spectre of inflation, John Lonski, chief economist at Moody's rating agency, told La Repubblica newspaper.
New York Attorney General Andrew Cuomo on Thursday reached agreements with Moody's Investors Service, Standard & Poor's and Fitch Ratings that will change the way credit rating agencies are paid by investment banks for reviewing mortgage-backed securities.
Moody's Investors Service and other rating agencies have signed an agreement with New York Attorney General Andrew Cuomo addressing rating practices, including fees, Moody's Chairman Ray McDaniel said Thursday.
Three large credit rating firms are close to announcing a broad deal with the New York attorney general to reform some of their core business practices, The New York Times reports.
Following are the week’s biggest winners and losers. Find out why shares of Hexcel and Amazon popped while Sigma dropped.
Credit rating agencies will be banned from helping to design products they also grade as part of a tougher industry code of conduct to tackle issues raised by the U.S. subprime mortgage crisis such as conflicts of interest.
Following are the week’s biggest winners and losers. Find out why shares of Foot Locker and Coca-Cola popped while Home Depot and Moody's dropped.
Following are the day’s biggest winners and losers. Find out why shares of Wendy's and Dell popped while Moody's and Under Armour dropped.
Warren Buffett told reporters in Italy today that the high price of oil doesn't really affect his investment decisions. In response to a question from CNBC Europe's Anna Martin, Buffett said that while oil does affect his operating businesses, it has a similar effect on his competitors. "There's a real impact on society, but not much on our investment decisions."
Following are the day’s biggest winners and losers. Find out why shares of Time Warner and Borders popped while AIG and Boeing dropped.
Warren Buffett's European media blitz continues today with a news conference in Madrid. It's the third time he's met with reporters in as many days. With his customary bottle of Coca-Cola in front of him and a scratchy voice, Buffett said there would be no deals announced today or tomorrow, or anytime soon, as a direct result of his trip.
Sometimes a stock is hot and other time it just burns. Following are the Fast Money misfires.
Connecticut Attorney General Richard Blumenthal says his look at a possible conflict of interest involving Warren Buffett's Berkshire Hathaway and Moody's is "simply one facet" of a broader investigation into the credit rating agencies. In an interview today (Thursday) with NBC station WVIT in Hartford, Blumenthal calls the Berkshire-Moody's relationship a "symptom of flaws in a system rife with conflicts of interest and problematic relationships."
Connecticut's Attorney General Richard Blumenthal tells Bloomberg he's investigating a possible conflict of interest involving Warren Buffett's Berkshire Hathaway. Berkshire owns a big stake in the credit rating agency Moody's, which recently gave Berkshire's new bond insurer its highest rating, a triple-A.
Following are the day’s biggest winners and losers. Find out why shares of Coach and Broadcom popped while Gannett and XTO Energy dropped.
Cramer makes the call on viewers' favorite stocks.
In a live on-set interview during today's Closing Bell on CNBC, MBIA's new CEO Jay Brown told us he's "comfortable" going up against Warren Buffett's new bond insurance company, although he acknowledges that Berkshire Hathaway can be "tough" competition. In response to a question about Buffett "going after" his business, Brown suggested Buffett might not be in it for the long haul.
Warren Buffett's new bond insurance company has backed more than 100 municipal bonds in the past two days, according to Reuters, which calls it a "development that shows just how fast the new unit is growing in a field where rivals are struggling."