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Bailout - not much relief, says Moody's
in Sox First, on September 23, 2008
The $700 billion bad mortgage bailout is unlikely to fix the markets, says ratings agency Moody's. Bloomberg reports that Moody's chief credit officer Richard Cantor says it will at best bring only short-term relief. It will not unfreeze credit markets. The tap will not be turned ...
Moody's subprime error bug
in Sox First, on July 4, 2008
Ratings agency Moody's has admitted that it incorrectly graded several European mortgage debt instruments because of a computer bug. The agency admits that it incorrectly gave its highest AAA rating to about $1bn worth of European "constant proportion debt obligations" (whi...
Trouble ahead for Citigroup
in Sox First, on December 3, 2007
A few days ago I did a blog entry saying Citigroup had given itself Junk bond status with it paying 11 per cent for The Abu Dhabi Investment Authority's $7.5 billion bailout. And I warned it was a sign of more trouble ahead and that the world's biggest bank could be in for a bad ...