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Credit Credit Ratings

  • Deven Sharma, president of Standard & Poor's, testifies before a subcommittee of the House Financial Services Committee in Washington, D.C., U.S., in July 2011.

    The fact that Deven Shama, the president of Standard & Poor’s, has stood down from his job just a couple of days after the agency downgraded the United States' credit rating has raised questions over whether he is being made into a scapegoat to deflect political pressure on the credit ratings agency.

  • The U.S. Securities and Exchange Commission seal hangs on the facade of its building in Washington, DC.

    I expect that a lot of the attention will be paid to William J. Harrington’s analysis of how conflicts of interest at Moody’s contributed to the financial crisis—and his idea to fix the rating system.

  • Bill Gross PIMCO

    The Republicans are calling for more spending cuts. But bond fund leaders say the better thing for the U.S. government to do is to spend now and save later. The NYT reports.

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    "Unless the government starts to get its fiscal house in order, does mandatory budget reform in the Congress with this [Super] Committee, I fear things will get considerably worse," said Robert Rodriguez.

  • He believes the Fed has created enough liquidity, but it's tax and regulatory barriers that have blocked growth and job creation. He also responds to GOP attacks on the Fed.

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    Three US municipalities have dropped Standard & Poor’s ratings of their local government investment funds in retaliation for the rating agency’s downgrade of US government debt to double A plus. The FT reports.

  • The U.S. Securities and Exchange Commission seal hangs on the facade of its building in Washington, DC.

    An enforcement lawyer at the Securities and Exchange Commission says that the agency illegally destroyed files and documents related to thousands of early-stage investigations over the last 20 years, according to information released Wednesday by Congressional investigators, reported the New York Times.

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    The Justice Department is investigating whether Standard & Poor’s rated mortgage securities improperly leading up to the financial crisis.  The NYT reports.

  • Hong Kong skyline

    'Dim Sum' bonds – yuan-denominated instruments issued through Hong Kong – are set to become a major market as investors look for alternatives to Western issuance and exposure to China, according to one investment manager.

  • S&P Cuts Google to 'Sell'

    Will the purchase of MMI negatively impact GOOG's growth, margins & balance sheet? Making a case for downgrading the tech giant, with Scott Kessler, Standard & Poor's equity research .

  • The Federal Reserve headquarters in Washington, DC.

    With the 10-year Treasury yield reaching lows not seen since the collapse of Lehman Brothers in 2008, some experts argue that a volatile economic climate with a recession is now likely.

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    As a long-time bond bull, my gratitude to the know-nothings in the Tea Party is profound. So what if they played a major role in taking a thousand points off the stock market in the wake of the U.S. debt downgrade?

  • US Crisis Worse than 2008

    "2008 was more of a crisis of liquidity. This time is much more structurally worse, because we do not have much in the way of ammunition at the Fed," JJ Burns, president of JJ Burns and Co, told CNBC.

  • President Obama plans to leave next week for vacation on Martha's Vineyard.  With all that is going on in the country and around the world, should he cancel his trip? Vote now.

  • French minister says broader GDP and deficit-cut targets remain, with CNBC's Ross Westgate.

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    China’s official news agency blasted the U.S. for its “debt addiction” following the S&P downgrade. The implicit assertion behind this outburst was that China understood “the commonsense principle that one should live within its means”. But the Chinese government is not quite the frugal, prudent borrower it portrays itself to be. The FT reports.

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    French bankers and officials scrambled to calm nerves on Thursday after two days of whipsaw trading that saw their banks' market value fall and rise by billions of euros.

  • Financial Crisis

    It feels eerily familiar: Stocks are plummeting. The economy is slowing. Politicians are scrambling to find solutions but are mired in disagreement, the New York Times reports.

  • Here’s the first super-committee interview with newly appointed member Sen. Pat Toomey.

  • France

    The big French banks were nursing their wounds Thursday after a huge sell-off Wednesday afternoon.