For the past half-century, the Chicago School has had a profound impact on the development and subsequent stagnation of academic finance. That is the subject of my lead article in Continue ReadingDid Academic Finance Play a Role in the Global Financial Crisis?
Al Franken’s announcement of his pending resignation completes his descent from Progressive Saint to something of a pariah figure. But like others whose stars have fallen during this moment of Continue ReadingAl Franken’s Complex Legacy and the Credit Rating Business
This blog article summarizes a recent article published in the European Business Law Review. Reference: Norbert J. Gaillard, “Credible Sovereign Ratings: Beyond Statistics and Regulations”, European Business Law Review, 28(1), Continue ReadingCredible Sovereign Ratings: Beyond Statistics and Regulations
No government regulation will ever apply to any rating agency that the government regulates, according to the Financial Choice Act. This bill would eliminate accountability for nationally recognized statistical rating Continue ReadingRepublicans Immunize Rating Agencies from Accountability in Financial Choice Act
This blog article summarizes a recent article published in Banking and Financial Services Policy Report.Reference: Norbert J. Gaillard, “Coping with Reliance on Credit Ratings”, Banking and Financial Services Policy Report, Continue ReadingCoping with Reliance on Credit Ratings
This blog article summarizes a recent article published in Capital Markets Law Journal. Reference: Norbert J. Gaillard and William J. Harrington, “Efficient, commonsense actions to foster accurate credit ratings”, Capital Continue ReadingEfficient, commonsense actions to foster accurate credit ratings
This blog article summarizes a recent research article published in Politique Etrangère. Reference: Norbert Gaillard, “Le concept de risque pays”, Politique Etrangère, 80(2), Summer 2015. It is difficult to determine Continue ReadingUnderstanding Country Risk
Given the economic tumult in China, we thought it would be worthwhile to get some perspective from that nation’s largest independent credit rating agency – Dagong. A check of its Continue ReadingA Critical Review of Dagong’s Rating Methodology
In its settlement with the Department of Justice, S&P has backed off its assertion that the federal lawsuit was filed in retaliation for its 2011 downgrade of US Treasury debt. Continue ReadingS&P Settles: Now How About that US Bond Rating?
On January 21, S&P settled a number of complaints with the Securities and Exchange Commission as well as two states’ attorneys general. The issues primarily involved ratings of Commercial Mortgage Continue ReadingSEC Shines a Light on Inflated CMBS Ratings