Dokumentation: Anhörung im US-Senat zur Rolle der Rating-Gesellschaften in der Finanzkrise

by mnockerl on 26. April 2010

Zu den Mysterien der Finanzkrise gehörte, wie so schlechte Investitionen in Hypothekenkredite so gute Rating-Noten bekommen konnten. Eine Antwort darauf suchte ein Untersuchungsausschuss des US-Senats. Verantwortlich für die Bonitätsnoten waren die Rating-Gesellschaften, deren Vertreter als Zeugen vernommen wurden. Eine deutschsprachige Zusammenfassung kann der Blick Log leider nicht liefern und verweist auf die unten stehenden Zusammenfassungen der New York Times.


Friday, April 23, 2010 09:30 AM Dirksen Senate Office Building, room G-50

[view archive webcast]

The Permanent Subcommittee on Investigations has scheduled a hearing, "Wall Street and the Financial Crisis: The Role of Credit Rating Agencies," on Friday, April 23, 2010, at 9:30 a.m., in Room G-50 of the Dirksen Senate Office Building.

This hearing will be the third in a series of Subcommittee hearings examining some of the causes and consequences of the recent financial crisis. This third hearing will focus on the role of credit rating agencies in the financial crisis, using as case histories the credit rating agencies of Standard and Poor’s and Moody’s. A witness list will be available Monday, April 19, 2010.

Exhibits This is a large file and may take some time to download depending on your connection speed. Additional Exhibits

Member Statements


Panel 1
  • FRANK RAITER [view testimony]
    Former Managing Director, Mortgage-Backed Securities
    Standard & Poor’s
  • RICHARD MICHALEK [view testimony]
    Former Vice President Sr. Credit Officer, Structured Derivative Products Group
    Moody’s Investors Service
  • ERIC KOLCHINSKY [view testimony]
    Former Team Managing Director, Structured Derivative Products Group
    Moody’s Investors Service
  • ARTURO CIFUENTES, PhD [view testimony]
    (Former Moody’s Senior Vice-President)
    Current Director, Finance Center, University of Chile
Panel 2
  • SUSAN BARNES [view testimony]
    Current Managing Director, Mortgage-Backed Securities
    (Former North American Practice Leader, Residential Mortgage-Backed Securities), Standard & Poor’s
  • YURI YOSHIZAWA [view testimony]
    Group Managing Director, Structured Finance
    Moody’s Investors Service
  • PETER D’ERCHIA [view testimony]
    Current Managing Director, U.S. Public Finance
    (Former Global Practice Leader, Surveillance), Standard & Poor’s
Panel 3
  • RAYMOND W. MCDANIEL, JR. [view testimony]
    Chairman and Chief Executive Officer
    Moody’s Corporation
  • KATHLEEN A. CORBET [view testimony]
    Former President (2004-2007)
    Standard & Poor’s

US-Senats-Hearing: Wall Street and the Financial Crisis: The Role of Credit Rating Agencies (23.4.10)


NYT: Rating Agency Data Aided Wall Street in Mortgage Deals (23.4.10): One of the mysteries of the financial crisis is how mortgage investments that turned out to be so bad earned credit ratings that made them look so good.

NYT: Former Employees Criticize Culture of Rating Firms (23.4.10): Former executives at Moody’s Investors Service and Standard & Poor’s offered damaging critiques on Friday of the practices at the two credit-rating agencies during the run-up to the financial crisis, The New York Times’s Sewell Chan reports from Washington.

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