Tuesday, May 19, 2009

Upcoming Congressional Rating Agency Roast

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.
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. Sphere: Related Content
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