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Strategies & Market Trends : Anthony@Pacific & TRUTHSEEKER Expose Crims & Scammers!!!

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From: ravenseye	9/27/2007 1:37:14 PM
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Senators Question Credit Rating Agencies By ALAN ZIBEL – WASHINGTON (AP) — Executives from major credit rating agencies on Wednesday were accused by senators of being hampered by conflicts of interest that may have contributed to the mortgage market turmoil rattling investors worldwide.... ap.google.com Credit agencies deny inflating ratings to beat rivals, Senate told By Stephen Foley in New York Published: 27 September 2007 The two biggest credit rating agencies denied that they gave inflated ratings to sub-prime mortgage debt and other discredited bonds in order to attract more lucrative business from Wall Street banks. The defence of their agencies' role in the credit crisis came as executives were hauled over the coals by US lawmakers on Capitol Hill, who said the agencies were riddled with conflicts of interest and should shoulder much of the blame for inflating a bubble in the credit markets.... news.independent.co.uk From The Times September 26, 2007 US watchdog calls on Wall St to give account of part it played in credit crunch Tom Bawden in New York Wall Street has been accused of contributing to the credit crunch through fraud as America’s financial watchdog announced an investigation into whether underwriters of mortgage-backed bonds “unduly influenced” the ratings agencies to ignore their risks. The Securities and Exchange Commission’s investigation into whether the issuers and underwriters of securities backed by sub-prime bonds put pressure on the ratings agencies emerged as the agencies began a two-day congressional hearing into their role in America’s mortgage meltdown.... business.timesonline.co.uk S.E.C. Inquiry Looks for Conflicts in Credit Rating By STEPHEN LABATON Published: September 27, 2007 WASHINGTON, Sept. 26 - The Securities and Exchange Commission has opened an investigation into whether the credit-rating agencies improperly inflated their ratings of mortgage-backed securities because of possible conflicts of interest, the head of the commission told Congress on Wednesday.... nytimes.com Credit Raters Face Heat; Moody's Is Sued by a Fund By ROBERT SCHROEDER and AARON LUCCHETTI September 27, 2007; Page C3 online.wsj.com ...In the suit filed in federal court in Manhattan, the Teamsters Local 282 Pension Trust Fund alleged that the New York company's ratings of subprime-mortgage bonds were materially misleading to investors concerning the quality and relative risk of those investments. The suit is seeking class-action status for purchasers of Moody's shares from Oct. 25, 2006, to July 10, 2007.

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