Credit rating agencies worldwide may be outlawed in the next several years – EU cracks down on them
Fred Day
Jun. 16, 2008

The credit rating agencies are root cause of the massive financial meltdown intimated by the credit related problems. The credit agencies in US, Europe and Asia have proved their worthlessness. They try to control the international and local domestic finances in many countries. But the potential conflicts of interest in the rating agencies’ business model are the toot cause of all troubles. Unlike American Administration and Federal Reserve, EU has decided to crack down on these rating agencies.

European anger over their role in promoting the sale of complex structured investments is rising very fast. In US people are more naïve and trust the legislative and executive branches of their Government. Bush Admionistration and the US Congress will eventually be forced to take action against these craedit rating agencies that are flawed in their operational models and plagued with conflicts of interest.

Credit rating agencies worldwide may be outlawed in the next several years – EU cracks down on them
Fred Day
The credit rating agencies are root cause of the massive financial meltdown intimated by the credit related problems. The credit agencies in US, Europe and Asia have proved their worthlessness.
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Biggest insurer AIG faces massive credit-related losses and regulatory probes – removing Martin Sullivan exposes the serious trouble
Peter Oberois
AIG’s potential loss is much higher. The pressure to change the top management has come from a shareholder revolt. The current board had to give in to the pressure of the shareholders.
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Dollar will move sideways as Federal Reserve is caught between lower growth and commodity hyperinflation
Nancy Oscar
US Dollar rose to a one-month high this week as Treasury Secretary Henry Paulson declined to rule out intervention to support the dollar and U.S. retail sales increased in May twice as much as economists forecast.
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Preferential treatment by Countrywide to Senator Kent Conrad shows how corrupt the mortgage business is
Peter Oberois
Conrad said he also received a loan from Countrywide on an eight-unit apartment building in Bismarck, North Dakota, even though the lender typically serves properties that have four units or less.
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The hyperinflation in commodities and credit squeeze create the recipe for financial meltdown v3.0
Joe Weinman
The banks will face severe runs one after the other. People will struggle to survive with skyrocketing heating costs, food prices and $6 to 7 a gallon gasoline.
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Higher Oil and lower dollar feeding each other in a frenzy – widening trade gap shows the real problem
Peter Oberois
As US Dollar goes down, oil price moves up. As oil price moves up, the US trade deficit goes up causing a lower dollar. The phenomenon is feeding on itself.
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Chinese stock market collapses as Chinese Central Bank focuses on credit tightening measures – what's the effect on Dow?
Sam Adelton
A moderation in Chinese economy spells a slowdown in global commodity inflation. That in turn is very bullish for US stock market.
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