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Tag Archive | "moody’s"

BofA, Wells Fargo Downgraded by Moody’s

BofA, Wells Fargo Downgraded by Moody’s


Bloomberg-

Bank of America Corp. (BAC) and Wells Fargo & Co. had their long-term credit ratings downgraded by Moody’s Investors Service, citing a decreasing probability that the U.S. would support the lenders in an emergency. Citigroup Inc.’s short-term rating also was cut.

[Bloomberg]

 

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MOODY’S ANALYST Says Ratings Agency Rotten To Core W/ Conflicts, Corruption, And Greed

MOODY’S ANALYST Says Ratings Agency Rotten To Core W/ Conflicts, Corruption, And Greed


Rabbit hole is getting deeper and deeper each day.

1999, Oh yes, MOODY’S “issued” an “independent” Structured Report entitled “Mortgage Electronic Registration Systems, Inc. (MERS): Its Impact on The Credit Quality of FirstMortgage Jumbo Transactions.

This just fits right along with all the pieces to this article.

Business Insider-

A former senior analyst at Moody’s has gone public with his story of how one of the country’s most important rating agencies is corrupted to the core.

The analyst, William J. Harrington, was employed by Moody’s for 11 years, from 1999 until his resignation in 2010.

From 2006 to 2010, Harrington was a Senior Vice President in the derivative products group, which was responsible for producing many of the disastrous ratings Moody’s issued during the housing bubble.

Harrington has made his story public in the form of a 78-page “comment” to the SEC’s proposed rules about rating agency reform, which he submitted to the agency on August 8th. The comment is a scathing indictment of Moody’s processes, conflicts of interests, and management, and it will likely make Harrington a star witness at any future litigation or hearings on this topic.

[ipaper docId=62691753 access_key=key-1w2ajoi700m733mgub1k height=600 width=600 /]

© 2010-19 FORECLOSURE FRAUD | by DinSFLA. All rights reserved.



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SEC could file civil fraud charges against some credit-rating agencies

SEC could file civil fraud charges against some credit-rating agencies


REUTERS-

(Reuters) – U.S. regulators could file civil fraud charges against some credit-rating agencies for their role in developing mortgage-bond deals that helped bring about the financial crisis, the Wall Street Journal reported, citing people familiar with the matter.

The Journal said the Securities and Exchange Commission was reviewing the conduct of companies including McGraw Hill’s Standard and Poor’s and Moody’s Investors Service owned by Moody’s Corp on at least two mortgage-bond deals.

continue reading [REUTERS]

© 2010-19 FORECLOSURE FRAUD | by DinSFLA. All rights reserved.



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COMPLAINT | Federal Home Loan Bank of Boston sues over 100 entities to rescind its purchase of nearly $6 billion of mortgage-backed securities FHLBBC v ALLY et al.

COMPLAINT | Federal Home Loan Bank of Boston sues over 100 entities to rescind its purchase of nearly $6 billion of mortgage-backed securities FHLBBC v ALLY et al.


373 Pages…

[ipaper docId=54491926 access_key=key-sn3xmzbslb15662ro3x height=600 width=600 /]

© 2010-19 FORECLOSURE FRAUD | by DinSFLA. All rights reserved.



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