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Fuel to the Fire I: The Rating Agencies

In: See No Evil

Author

Listed:
  • Erik Banks

Abstract

Let me switch gears slightly, away from the bankers and housing enterprises, toward the credit rating agencies. More specifically, in this chapter I want to explore the role of “big three” agencies in the crisis. Standard and Poor’s (S&P), Moody’s, and Fitch are responsible for analyzing all manner of liabilities (like commercial paper, notes, and bonds), providing “opinions” on the likelihood issuers will continue to perform. While the agencies have been late to the party a few times with downgrades of failing companies, their overall record has generally been pretty good – at least for corporate obligations.

Suggested Citation

  • Erik Banks, 2011. "Fuel to the Fire I: The Rating Agencies," Palgrave Macmillan Books, in: See No Evil, chapter 5, pages 93-104, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-0-230-29917-7_6
    DOI: 10.1057/9780230299177_6
    as

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