Ratings Agencies Take the Stand

Tune in to C-SPAN 2 to see the ratings agencies testify to the Financial Crisis Inquiry Commission.

Buffett wouldn’t voluntarily testify; he had to be subpoenaed.

With this many witnesses, expect lots of written/read testimony, some Congressional grandstanding and little discovery.

Here is the lineup (no pun intended):

Session 1: The Ratings Process

Eric Kolchinsky, Former Team Managing Director, U.S. Derivatives, Moody’s Investors Service

Jey Siegel, Former Team Managing Director, Moody’s Investors Service

Nicholas S. Weill, Group Managing Director, Moody’s Investors Service

Gary Witt, Former Team Managing Director, U.S. Derivatives, Moody’s Investors Service

Session 2: Credit Ratings and the Financial Crisis

Warren E. Buffett, Chairman and Chief Executive Officer, Berkshire Hathaway

(Mr. Buffett has elected to provide written testimony)

 Raymond W. McDaniel, Chairman and Chief Executive Officer, Moody’s Corporation

 Session 3: The Credit Rating Agency Business Model

Brian M. Clarkson, Former President and Chief Operating Officer, Moody’s Investors Service

Mark Froeba, Former Senior Vice President, U.S. Derivatives, Moody’s Investors Service