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    Banks, News

    Moody’s Slightly Reduces Overrating Of Banks

    Are we supposed to care about these downgrades? I like Glenn Schorr at Nomura, emphasis mine: We think the net financial impact of these downgrades will be manageable as 1) potential collateral calls are small percentages of these firms’ liquidity pools; 2) counterparties have been preparing for this for some time and ratings downgrades have […]

    / Jun 22, 2012 at 10:03 AM
  • News

    Moody’s: Banks Do Things That Are Bad And Good And Bad For Them

    Moody’s Investors Service downgraded the debt ratings of 15 major international banks and securities firms on Thursday, a move that could cost the banks billions of dollars in extra collateral…U.S banks that were downgraded included: Bank of America, Citigroup, Goldman Sachs, JPMorgan, and Morgan Stanley. “All of the banks affected by today’s actions have significant […]

    / Jun 21, 2012 at 5:54 PM
  • News

    Moody’s Treads Where No Other Rating Agency Dare

    “Moody’s Investors Service downgraded six European nations and became the first ratings firm to warn the U.K.’s rating could be at risk, citing the area’s weakening ability to implement measures aimed at reducing debt…Where Moody’s did deviate from recent actions by other ratings firms was in changing the outlook for the U.K. There had been […]

    / Feb 13, 2012 at 8:03 PM
  • News

    Moody’s May Downgrade Penn State

    On account of recent events.

    / Nov 11, 2011 at 5:17 PM
  • Banks

    Could Moody’s Saying BofA Is Not Too Big To Fail Make BofA Not Too Big To Fail?

    Michael Feroli at JPMorgan had an interesting note this morning (via ZH) on the Republican letter to Bernanke, pointing out that this sort of saber-rattling against easing might actually make it more likely as a way for the Fed to assert its independence. Moody’s downgrade of BAC/WFC/C, on the other hand, may have the opposite […]

    / Sep 21, 2011 at 2:39 PM
  • Rating Agencies

    Don’t Ask To Speak With Brian Moynihan Today

    He may be in a mood.

    / Sep 21, 2011 at 12:39 PM
  • News

    Moody’s Puts 5 States On Notice

    Apparently Maryland, South Carolina, New Mexico, Tennessee and Virginia should be preemptively quaking in their boots.

    / Jul 19, 2011 at 2:51 PM
  • News

    Credit Ratings Agencies May Want to Tread Carefully

    It turns out that when you say things like “let’s not pay back our debts, what’s the worst thing that can happen?,” one thing that does happen is that the credit ratings agencies start worrying that you might not pay back your debts. Weird. From Reuters: Standard & Poor’s has warned lawmakers privately that it […]

    / Jul 14, 2011 at 1:49 PM
  • News

    Moody’s Is Both Disappointed In, Impressed By Washington

    Although Moody’s fully expected political wrangling prior to an increase in the statutory debt limit, the degree of entrenchment into conflicting positions has exceeded expectations. The heightened polarization over the debt limit has increased the odds of a short-lived default. If this situation remains unchanged in coming weeks, Moody’s will place the rating under review. […]

    / Jun 2, 2011 at 5:19 PM
  • News

    Moody’s (Tentatively) Likes What It Hears About These Budget Discussions

    The U.S. is the only large AAA-rated country that saw its debt rise during the crisis that until recently had no plan that would reverse the trend, said Steven Hess, senior credit officer at Moody’s. Budget cuts would mean the U.S. wouldn’t likely sell as much debt, which has grown to $9.13 trillion in marketable […]

    / Apr 13, 2011 at 5:52 PM
  • News

    Raj Rajaratnam Got Information From Moody’s, Not Tipster, Says Lawyer

    The ratings agency is good for something!

    / Mar 21, 2011 at 2:30 PM
  • News

    Warren Buffett Leaves A Bad Taste In Charlie Gasparino’s Mouth

    The fact that he believes the ratings agencies “are a sleazy business but owns them because they’ll make him a lot of money takes Buffett down three notches” in Chaz’s book. Three!

    / Jun 2, 2010 at 4:43 PM
  • News

    Buffett: Rising Prices Are a Narcotic

    Warren Buffett called rising prices on everything from houses to Internet stocks “a narcotic” that blinds people to all kinds of risks in the system. He suggested Moody’s, which was supposed to be watching out for these risks, simply took too much of the drug

    / Jun 2, 2010 at 1:37 PM
  • News

    Oracle Cuts Back As Ratings Agencies Cut Back

    Warren Buffett’s a pretty moral guy, we think. He’s old, yes, and thinks that railroads are the future as we enter the year 1910. But he isn’t a cheating bastard. He just invests in them: to wit, his 13% stake in the lying, thieving Moody’s Corp., parent of the august Moody’s Investor Services, one of […]

    / Dec 23, 2009 at 1:13 PM
  • News

    Bank Of America A Solid C-Minus, Moody’s Says

    What a day for Ken Lewis & Co.! First, one of the savviest hedge fund managers out there gives BofA a big thumbs up (take that, Steve Cohen and Jim Simons). Next, someone we’ve actually heard of kinda sorta suggested he might take the Worst Job on Wall Street (BofA is, after all, a public […]

    / Nov 18, 2009 at 4:03 PM
  • News

    UBS Not So Much On The Road To Recovery

    UBS thinks it has its whole, unpleasant financial situation figured out. Moody’s Investors Service is somewhat less sure. The ratings agency slashed UBS’s deposit and senior debt ratings from double-A-2 to double-A-3. Its financial strength rating and long-term debt rating took an even bigger hit, falling to C to B-minus. The two-notch downgrade of UBS […]

    / Nov 18, 2009 at 1:42 PM
  • News

    Warren Buffett Could Use A Little Bill Ackman In Him

    The following post is by “Gatzzb,” a friend of Dealbreaker. Over the last decade few investors have been more quoted – and emulated – than Warren Buffett, the Oracle of Omaha. And for good reason. Mr. Buffett remains one of the most talented investment managers, capital allocators and business managers of our generation with a […]

    / Jun 17, 2009 at 10:00 AM
  • News

    Moody’s Just Now Realizing There Is More Than One Game In Town

    Maybe the guys at Moody’s are finally getting it. Apparently somewhat lost on the Moody’s clan during the past 6 or so years when getting a rating was about as tough as waking up, was the clear arb at the top of the capital structure. Between the two masters of mean reversion analysis, Moody’s had […]

    / Jun 5, 2009 at 12:26 PM

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