Thursday, August 16, 2007

Time to sniff out complicity and fraud?

Rating agencies hit by subprime probe

The European Commission is to investigate credit ratings agencies amid growing dismay over their slow response to the subprime mortgage crisis. Officials in Brussels, and many other critics, believe the ratings agencies failed to act quickly enough to warn investors about the risks of investing in securities backed by US subprime mortgages – the sector whose troubles triggered the recent global market volatility. "A lot of money has been lost and we want to know who gets the can of woopass opened on them" ;)

Posted by dohousescrashinthewoods @ 09:44 AM (668 views)
Please complete the required fields.



7 thoughts on “Time to sniff out complicity and fraud?

  • Stable. Door. Horse. Bolted.

    Reply
    Please complete the required fields.



  • Good money for lawyers for poor advice then!

    Reply
    Please complete the required fields.



  • Twaddle…the ratings in the MBS market started dropping late 2005 as reported by Bloomburg.

    Reply
    Please complete the required fields.



  • Now that things are heading southwards anyway, adjusting the credit ratings will only increase the severity of falls.

    FANTASTIC!!!

    Reply
    Please complete the required fields.



  • Risks for seasoned investment professional / financiers in highly leveraged investments SHOULD be known. They have continued to invest other peoples’ monies into investments which they have known have been as risky as hell, while making very cosy beds for themselves with remuneration packages not linked to any form of competence. The London Market needs a fundmantal overhaul… or else we will continue to get this over and over again.

    Reply
    Please complete the required fields.



  • Bubbles. . . says:

    Tommy….Is that why nick Leesons got all his bonuses tucked away in some swedish bank account and some of Barings banks funds too..(probably)..They get paid wether they lose or win…

    Reply
    Please complete the required fields.



  • “the ratings agencies failed to act quickly enough to warn investors about the risks of investing in securities backed by US subprime mortgages”

    How funny. If investors had been reading this site for the past year or so they would have found plenty of warnings about the risks.

    Respect to all those posters who have been highlighting this issue for months (and I’m not including myself here because I’m not as sharp as many on here).

    Reply
    Please complete the required fields.



Add a comment

  • Your email address is required so we can verify that the comment is genuine. It will not be posted anywhere on the site, will be stored confidentially by us and never given out to any third party.
  • Please note that any viewpoints published here as comments are user´s views and not the views of HousePriceCrash.co.uk.
  • Please adhere to the Guidelines

Your email address will not be published. Required fields are marked *

You may use these HTML tags and attributes:

<a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <s> <strike> <strong>