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Irrational Exuberance, 17 Years Later - WSJ

Irrational Exuberance, 17 Years Later - WSJ | Securitization and Credit Rating Agency | Scoop.it
Seventeen years ago today, former Fed Chairman Alan Greenspan coined "irrational exuberance," a phrase that is still ringing across Wall Street as bubble talk once again ratchets up.
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17 years that the financial markets is in irrational exuberance... It's easier to understand the optimistic vision of the house market...

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Get technical to fix rating agencies - FT

Get technical to fix rating agencies - FT | Securitization and Credit Rating Agency | Scoop.it
News last month that the Department of Justice is suing Standard & Poor’s for fraud in connection to the ratings of a certain class of mortgage-related bonds was well received by some investors. However, it would be naive to get too excited.
Saunier's insight:

The article highlights some interesting points:

- The role of the financial regulators to promote three powerful CRA

-  Criticism and deficiencies against CRA rating methodology of structured finance

- Conflict of interest between CRA and issuers

 

The second points is clearly explained!

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The Future of Securitization

The Future of Securitization | Securitization and Credit Rating Agency | Scoop.it
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Interesting article about what is securitization and how securitization will evolve. Indeed, securitization is still a viable financial instrument despite its implication in the subprime debacle.

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The role of ratings in structured finance

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This document provide a deep analyse of the role of ratings, the methodology, the issues and implications of ratings.

The structure of the paper allow to go directly to the section in which you are interested.

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Boom-era credit deals poised for comeback - FT.com

Boom-era credit deals poised for comeback - FT.com | Securitization and Credit Rating Agency | Scoop.it
Last month Citigroup placed an unusual job advertisement. The bank was seeking an analyst able to crunch the numbers on an obscure financial security: synthetic collateralised debt obligations.
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This article highlights the fact that maybe we did not learn from the 2007 crisis...

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S&P/Case-Shiller Home Price Indices - S&P Dow Jones Indices

S&P/Case-Shiller Home Price Indices - S&P Dow Jones Indices | Securitization and Credit Rating Agency | Scoop.it
S&P / Case Shiller
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The House Price Index of the U.S. - S&P / Case Shiller index

 

All the data concerning the house prices in the U.S. can be downloaded here. We can easily see the "irrational exuberance" of the house market!

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Financial Crisis Report from the U.S. Senate

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Interesting case study about S&P and Moody's pp243-317

The main guidelines are the followings:

- Background

- Mass downgrading

- Rating deficiencies

- Prevention

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The Crisis of Credit Visualized - HD - YouTube

The Short and Simple Story of the Credit Crisis 

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A synthetic video which clearly explain the credit crunch crisis of 2007 and the role of securitization

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