Once Hallowed like Hollywood: Credit Rating Agencies and the Subprime Loans Crisis

Bala Batavia (), Nandakumar P. () and Cheick Wagué
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Bala Batavia: DePaul University
Nandakumar P.: Indian Institute of Management Kozhikode
Cheick Wagué: Southern Stockholm University-SÖDERTÖRN, Stockholm

No 71, Working papers from Indian Institute of Management Kozhikode

Abstract: This paper analyzes the roles played by the three dominant credit rating agencies - Standard & Poor´s, Moody´s and Fitch Ratings in contributing to - and aggravating - the subprime crisis. Criticisms levelled against these agencies, the facilitating role played by the regulating agencies, the insider stories from these agencies that conflict with the vigorous defence put up by the leadership of these agencies in trying to clear the good names of their firms, are all put under the microscope. Finally, reforms and changes are suggested in the functioning and regulation of these much-harangued credit agencies.

Keywords: Credit Rating Agencies; Standard & Poor’s; Moody’s; Fitch Ratings; Subprime Loans; Collateral Debt Obligations (search for similar items in EconPapers)
Pages: 1 page
Date: 2010
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Persistent link: https://EconPapers.repec.org/RePEc:iik:wpaper:71

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