Chapter 1942 (1/2)

In this financial crisis, it can be said that in addition to the bankers on Wall Street, the other one that has been criticized is the credit rating agencies, which have been criticized for failing to strictly review credit derivatives, resulting in the mixed quality of products.

During the period of rapid development of real estate industry, the amount of sub-prime loan transactions of investors reached millions of dollars. Everyone is accusing S & P, its main competitors and other rating agencies of unfair competition due to inherent conflicts of interest. Many securities are taken care of by their analysts when rating, which harms everyone.

The credibility of international rating agencies began to be questioned after the financial crisis, and the financial crisis Investigation Commission said in a report that the downgrade of these securities ”helped” wipe out nearly 11 trillion dollars of wealth of American families.

Even so, at this time, standard & Poor's was considered by many people in the United States that it would only spread ”lies” if it did not have the ability to carry out constructive dialogue or understand basic economic concepts.

”Bang!”

Under the cloudy sky in New York City, on the lush golf course, Andy, wearing white T-shirt and white slacks, waved his club and made a beautiful arc in the air and fell to the hillside not far away.

”Good ball!”

”Thank you.” Andy closed with a big smile on his face and applauded the guest, said Steven Sharma, the new president of standard & Poor's at stake. Andy hands the club to the caddie with the bag on his back, presses down the brim of his baseball cap, steps on the lawn with devinshama, and walks leisurely to the next ball area.

”Whoo --”

”to be honest, I really want to thank you for your invitation. I don't even have time to rest during this period.” Although he and Andy Smith are not very familiar with each other, they do not prevent him from using the Jiao wrist to draw closer to each other... We can understand why people question us so much. We understand that, although sometimes it feels a little unfair. We play a limited but important role in the market. We bring important benchmark information about credit. If you look at the past records, we have rated $32 trillion (bonds), of which only $2 trillion is ”sub bonds”. Although there are no other problems, we are disappointed that there are problems with the ”sub debt”

Looking at the vast stadium landscape, tevenshama continued to talk about the previous topic with great emotion. He also defended the S & P that he took over. Although there was no need to explain the argument to Andy Smith at all, he was still a new king who was competing with the old media empire news group and occupying the upper hand in the face of a media empire I hope to get Andy Smith's friendship.

”But it has to be said that the rating reports issued by Moody's, Fitch and S & P have a great influence on the investment decisions of global investors on national bonds and corporate bonds.” One side of alvertriel said indifferently, in the heart of the defense of devinshama sniffed, but this time after all, it was to find help, so it did not sound bad, otherwise, his words will become, the three major rating agencies are suspected of making misleading ratings in the housing mortgage industry!

”Ha ha.” Andy chuckles and shakes his head. As he walks, he arranges his white mittens on his right hand. ”The financial crisis has become the past, and the consequences are very serious. The key now is that, not how you say it, but what we all think, someone or the company must stand up and be responsible for this financial storm, the culprit and the scapegoat.”

As he said it, Andy, with a bright smile, looked at devinshama, with a wry smile on his face, and said meaningfully: ”besides, according to some information I have received, your S & P is in a very bad situation. Many people want to borrow your S & P's head to use it!”

”How can it be?!”

At this time, Devin Shama's face changed dramatically, and she was shocked and angry. He didn't doubt the authenticity of Andy's words. When he received Andy's telephone invitation, he kept thinking about the other side's purpose. The final conclusion was that the other side was fighting with news corporation. Maybe he needed their help from S & P. at first, he had some problems about how to refuse some excessive assists without offending both sides and getting Andy's friendship. Now In my opinion, don't say politely, in the face of the bait thrown by the other party, you should eat even if you spit blood.

Andy did not pay attention to the shock of devinshama, but reached out to build a canopy for his eyes, looked at the distance, and said lightly: ”nothing is impossible...

By the way, with the gradual expansion of the scope of phone hacking, the UK has expanded its judicial investigation into the news corporation's media hacking scandal. At the same time, U.S. lawmakers increased pressure on the FBI to investigate whether News Corp. media had similar misconduct in the United States. What do you think of the dilemma facing News Corporation? Is it facing ”increased business and reputation risk”