Fuel to the Fire I: The Rating Agencies

Erik Banks

Chapter 5 in See No Evil, 2011, pp 93-104 from Palgrave Macmillan

Abstract: Abstract Let me switch gears slightly, away from the bankers and housing enterprises, toward the credit rating agencies. More specifically, in this chapter I want to explore the role of “big three” agencies in the crisis. Standard and Poor’s (S&P), Moody’s, and Fitch are responsible for analyzing all manner of liabilities (like commercial paper, notes, and bonds), providing “opinions” on the likelihood issuers will continue to perform. While the agencies have been late to the party a few times with downgrades of failing companies, their overall record has generally been pretty good – at least for corporate obligations.

Keywords: Rating Agency; Housing Price; Housing Market; Credit Rating; Mortgage Market (search for similar items in EconPapers)
Date: 2011
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DOI: 10.1057/9780230299177_6

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