At 2 pm, the House Financial Services Committee will hold a live webcast hearing (
here for the link) discussing credit rating agencies, which should be quite entertaining and potentially violent as the RA storm clouds have been gathering for a while now, even more so since recently CT AG Blumenthal has made it
his crusade to destroy the monopoly of S&P and Moody's with the current administration.
The sworn-in participants will include the following individuals, among whom is none other than Stephen Joynt, CEO of Fitch Ratings. The links for each "expert" testimony is also provided below.
- Mr. Robert Auwaerter, Principal & Head of the Fixed Income Group, Vanguard
- Mr. Robert Dobilas, President and Chief Executive Officer, Realpoint LLC
- Mr. Eugene Volokh, Gary T. Schwartz Professor of Law, UCLA School of Law
- Mr. Stephen W. Joynt, President and Chief Executive Officer, Fitch, Inc.
- Mr. Alex J. Pollock, Resident Fellow, American Enterprise Institute
- Mr. Gregory Smith, General Counsel, Colorado Public Employees’ Retirement Association
The angle here is to observe whether the rating agencies will be presented as the next wholsesale scapegoats, and marinade them, so to speak, in advance of the next congressional roasting once the market tanks again, now that populist anger at AIG is dead and buried.
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