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What Caused The Financial Crisis?

The government panel, the Financial Crisis Inquiry Commission blames: Banks that made reckless bets, credit rating agencies that endorse risky mortgage-backed securities and government regulators who overlooked warning signs until they threatened the global financial system.

 

Portugal faces rating cut, Spanish debt costs rise

Portugal was put on notice on Tuesday that its credit rating could be cut and fellow euro zone debtor Spain had to pay more to issue new debt, suggesting the currency bloc's crisis will rage unabated in 2011.

 

Moody's Warns It May Downgrade Spain

Moody's put Spain's Aaa credit rating on review for a possible downgrade because of flagging economic prospects, challenging fiscal targets and rising funding costs.

 

Moody's Cuts BP Credit Ratings

Move echoes that of Fitch Ratings earlier in the week.

 

Moody's analysts felt ‘intimidation’ on ratings

Some former Moody's analysts said they felt intimidated by bosses to assign rosy ratings to risky debt products, according to testimony to a government panel.

 

Downgrade of Spain Pushes Markets Lower

Downgrade of Spain Pushes Markets Lower

Fitch cut Spain’s credit rating, saying that the country’s debt will probably weigh on the country’s growth.

 

Bankruptcy is an option for homeowners trying to avoid foreclosure

If nothing else, the legal maneuver will buy them some breathing room. But it also will destroy their credit rating, and it may not even be necessary.

To most people, bankruptcy is a four-letter word.

 

Stocks Rally for a Third Day

Stocks Rally for a Third Day

Wall Street pushed higher despite a jump in jobless claims and a cut in General Electric’s credit rating.

 

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