Credit Rating

From The Business Pages, Oct. 31, 2008
October 31, 2008

  It’s not the most important financial story right now, but the clever (or too clever by half) corner by Porsche in Volkswagen stock gets an excellent write up, and break down, from The New York Times’ Floyd Norris. Separately, Brad Delong has been talking about it for days on his blog. For those interested in financial history, this is one for the books. Just some Friday fun, at the expense of others: Watch CNBC’s Charlie Gasparino, who was supposed to provide the end-of-day wrap up, instead says: “Whadda I got? Shoot the capitalists.

Bad News For The Thieves
April 07, 2008

The Financial Times has been far ahead of The Wall Street Journal in its acuity on the credit crisis and on the consequences that have ensued from it. At least as I recall, it was the first of the elite publications to grasp that the insurers of bonds, mortgages and other sorts of loans (MBIA and Ambac, for example) were insuring much more than they could handle. And also that the rating agencies (Moody's, S%P, Fitch) were reckless (and dishonest) in their giving out grades of AAA as if they were chewing gum.

The Collapse Of The Bond Insurers
December 03, 2007

"Short Seller Sinks Teeth Into Insurer" is the headline to an article in Saturday's New York Times.