The credit rating crisis
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The credit rating crisis

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Published by National Bureau of Economic Research in Cambridge, MA .
Written in English


Book details:

Edition Notes

StatementEfraim Benmelech, Jennifer Dlugosz.
SeriesNBER working paper series -- working paper 15045, Working paper series (National Bureau of Economic Research : Online) -- working paper no. 15045.
ContributionsDlugosz, Jennifer., National Bureau of Economic Research.
Classifications
LC ClassificationsHB1
The Physical Object
FormatElectronic resource
ID Numbers
Open LibraryOL23683700M
LC Control Number2009655970

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Get this from a library! The credit rating crisis. [Efraim Benmelech; Jennifer Dlugosz; National Bureau of Economic Research.] -- Since June , the creditworthiness of structured finance products has deteriorated rapidly. The number of downgrades in November alone exceeded 2, and many downgrades were severe, with   Today when millions of people in the US are struggling with their loans, a book like this is highly relevant. “Credit Secrets” promises simple tactical steps any person could follow to improve their credit history and eventually reach financial stability. No wonder it got endorsed by Larry King in one of his special reports, ‘Is Your Credit in Crisis?’/5(). crisis. This book is a guide to ratings, the ratings industry and the mechanics and economics of obtaining a rating. It sheds light on the role that the agencies play in the international financial markets. It avoids the sensationalist approach. The Credit Secrets Book BBB rating is a B- and this looks like it is mostly because Info Up LLC does not respond timely to complaints filed on the Better Busines Bureau site. This is pretty typical of companies like Credit Secrets who refuse to pay the large annual fee to be accredited by the BBB.

The Financial Crisis Inquiry Report found investment banks frequently telling Moody's that if they don't like their credit rating, they will take their business down the street to S&P, and vice versa.   An all new Larry King Special Report has just been released, where King investigates the current credit crisis in America, and reveals what consumers can do to fix their financial situations. My credit was not in crisis, but for $ I figured what could I lose, and I might be some valuable tidbits. Well I'm actually quite suprised at how informative and concise the book is. My trepidation was relieved after reading through and completing some of the action items. I work in real estate sales and I'm always looking for clear. In their book on the crisis— All the Devils Are Here —journalists Bethany McLean and Joe Nocera criticized rating agencies for continuing "to slap their triple-A [ratings]s on subprime securities even as the underwriting deteriorated—and as the housing boom turned into an .

Founded in , the NBER is a private, non-profit, non-partisan organization dedicated to conducting economic research and to disseminating research findings among academics, public policy makers, and business professionals. This book is a guide to ratings, the ratings industry and the mechanics and economics of obtaining a rating. It sheds light on the role that the agencies play in the international financial markets. It avoids the sensationalist approach often associated with studies of rating scandals and the financial crisis, and instead provides an objective and critical analysis of the business of by: The credit crisis of was in many ways a credit rating crisis. Structured finance products, such as mortgage-backed securities, accounted for over $11 trillion dollars worth of outstanding U.S. debt.   In connection with the financial crisis, the big three global credit ratings agencies have faced heavy fines and have come under scrutiny for playing a pivotal role in the meltdown. After the Great Recession period, many credit ratings agencies grabbed headlines for facing lawsuits for their alleged involvement in the subprime mortgage crisis.