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	<title>The Ratings Debate</title>
	<link>http://www.theratingsdebate.com</link>
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		<title>Balancing the Blame</title>
		<description><![CDATA[I know this fits the “rating agencies are the Devil” narrative in D.C., but a little balance is called for. If there was a failing in MF Global, it was in management and regulatory oversight. Management took the risk, and the blame lies with them. Regulators are empowered to oversee the safety and soundness of [...]]]></description>
		<link>http://www.theratingsdebate.com/balancing-the-blame/</link>
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		<title>EU vs. Rating Agencies</title>
		<description><![CDATA[More government legislating behavior. Let&#8217;s give the EU the ability to temporarily &#8220;ban&#8221; ratings on sovereign debt if they don’t like the ratings. Let&#8217;s open rating agencies to liability, where THEY have to defend against a standard of proof that there wasn’t &#8220;gross misconduct.&#8221; Let&#8217;s have the EU add more rules to &#8220;increase competition.&#8221; The [...]]]></description>
		<link>http://www.theratingsdebate.com/eu-vs-rating-agencies/</link>
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		<title>Bernanke Says Downgrade Didn’t Help</title>
		<description><![CDATA[In his speech given at Jackson Hole, Wyoming, Federal Reserve Bank Chairman Ben Bernanke complained that the recent downgrade of the U.S. debt by Standard &#038; Poor’s and congressional budget battles were counterproductive to recovery. First, he discussed how much had been done to address the root causes of the 2008 financial crisis that sparked [...]]]></description>
		<link>http://www.theratingsdebate.com/bernanke-says-downgrade-didn%e2%80%99t-help/</link>
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		<title>Former Moody’s Executive Attacks Ratings Agencies</title>
		<description><![CDATA[William Harrington, a former senior president at Moody&#8217;s Investor&#8217;s Services, was sharply critical of how Moody’s and the other rating agencies conduct business. He claimed that the organization’s senior management would routinely interfere with analysts’ assessments. Mr. Harrington, who resigned in 2010 after 11 years with Moody’s, said in a statement filed with the Security [...]]]></description>
		<link>http://www.theratingsdebate.com/former-moody%e2%80%99s-executive-attacks-ratings-agencies/</link>
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		<title>Deven Sharma, Head of S&amp;P, Stepping Down</title>
		<description><![CDATA[The parent company of Standard &#038; Poor’s (S&#038;P), McGraw-Hill Cos., announced that Deven Sharma, president of S&#038;P, will be replaced by Douglas Peterson. Mr. Peterson is currently the Chief Operating Officer of Citibank N.A. Prior to that position, Mr. Peterson was CEO of Citigroup Japan. While with Citigroup, Mr. Peterson established a reputation as a [...]]]></description>
		<link>http://www.theratingsdebate.com/deven-sharma-head-of-sp-stepping-down/</link>
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		<title>U.S. Suing Banks over Mortgaged-Backed Securities</title>
		<description><![CDATA[investments by the rating agencies and sold by some of the country’s largest banks, the U.S. government is intending to sue. The Federal Housing Finance Agency (FHFA) that oversees Fannie Mae and Freddie Mac, is hoping to be compensated for billions in losses. The claim is that the banks misrepresented the quality of the securities. [...]]]></description>
		<link>http://www.theratingsdebate.com/u-s-suing-banks-over-mortgaged-backed-securities/</link>
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		<title>S&amp;P Gives Sub Prime Mortgage Backed Securities a AAA Rating</title>
		<description><![CDATA[Bloomberg News reports that Standard &#038; Poor’s is prepared to give an upcoming bond issue by Springleaf Finance Corporation a AAA rating. Hoover’s describes Springleaf Finance Corporation as an originator and servicer of first and second real estate mortgages. Most of these &#8220;are categorized as subprime or nonprime loans.&#8221; Bloomberg writes, &#8220;S&#038;P is poised to [...]]]></description>
		<link>http://www.theratingsdebate.com/sp-gives-sub-prime-mortgage-backed-securities-a-aaa-rating/</link>
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		<title>Elkin Urges Ratings Agencies to Stop Rating U.S. Debt</title>
		<description><![CDATA[Larry Elkin, President of Palisades Hudson Financial Group, LLC, wrote on the company’s web site that the Security and Exchange Commission (SEC) is abusing its investigative power. He believes two SEC inquiries into Standard &#038; Poor’s (S&#038;P) to be retaliation for lowering the rating on U.S. debt. These SEC investigations deal with whether S&#038;P had [...]]]></description>
		<link>http://www.theratingsdebate.com/elkin-urges-ratings-agencies-to-stop-rating-u-s-debt/</link>
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		<title>Germany Begins to Suggest Greek Default</title>
		<description><![CDATA[Philipp Roesler, Germany’s vice chancellor and economy minister, wrote in an op-ed piece that appeared in Die Welt that “To stabilize the euro in the short term there can’t be any taboos…That ultimately includes Greece’s orderly insolvency, if the necessary instruments are available.” This is a significant break with German Chancellor Angela Merkel’s calls for [...]]]></description>
		<link>http://www.theratingsdebate.com/germany-begins-to-suggest-greek-default/</link>
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		<title>Goldman Sachs Sued for Lying to Ratings Agencies</title>
		<description><![CDATA[The Federal Housing Finance Agency (FHFA) has filed 10 causes of action against Goldman Sachs; of these, the more serious are for fraud. The agency is hoping to collect $11.1 billion plus interest for the lost securities and legal fees. Courtney Comstock of Business Insider quotes a key passage from the lawsuit: “Because the information [...]]]></description>
		<link>http://www.theratingsdebate.com/goldman-sachs-sued-for-lying-to-ratings-agencies/</link>
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