| Description |
1 online resource (xiii, 210 pages) |
| Series |
Cornell studies in money |
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Cornell studies in money.
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| Contents |
The agencies and what they do -- How to think about the agencies -- The agencies and financial innovation -- Cogs in the wheel of financial destruction -- Aftermath -- Addendum: convenient villains and all-purpose bogeymen -- I'll be gone. You'll be gone |
| Summary |
"To the Brink of Destruction exposes how America's rating agencies helped generate the global financial crisis of 2007 and beyond, surviving and thriving in the aftermath. Despite widespread scrutiny, rating agencies continued to operate on the same business model and wield extraordinary power, exerting extensive influence over public policy. Timothy J. Sinclair brings the shadowy corners of this story to life by examining congressional testimony, showing how the wheels of accountability turned--and ultimately failed--during the crisis. He asks how and why the agencies risked their lucrative franchise by aligning so closely with a process of financial innovation that came undone during the crisis. What he finds is that key institutions, including the agencies, changed from being judges to being advocates years before the crisis, eliminating a vital safety valve meant to hinder financial excess."-- Provided by publisher |
| Analysis |
Dodd-Frank Act, bankruptcy of lehman brothers, international banking crisis, S & P global Ratings, Moody's, Flitch Group |
| Bibliography |
Includes bibliographical references and index |
| Notes |
Timothy Sinclair was a political scientist who wrote extensively on the politics of global finance. He was an expert on the major American credit rating agencies, Moody's Investors Service, Standard & Poor's, and Fitch. Sinclair was born in Taumarunui, New Zealand in 1963, and was educated at Taumarunui Primary School, and at St. Andrew's College and the University of Canterbury in Christchurch. In 1988 and 1989 he worked as a trainee analyst at the New Zealand Treasury in Wellington. Sinclair completed his Ph.D. at York University in Toronto and joined the University of Warwick in 1995. He has been a visiting scholar at Harvard University, the University of York (UK), and the University of Sheffield.--Wikipedia |
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In English |
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Print version record |
| Subject |
Rating agencies (Finance) -- United States
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Rating agencies (Finance) -- United States -- History -- 21st century
|
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Global Financial Crisis, 2008-2009.
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Financial crises -- United States
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BUSINESS & ECONOMICS / Finance
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Financial crises
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Rating agencies (Finance)
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United States
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| Genre/Form |
Electronic books
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History
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| Form |
Electronic book
|
| LC no. |
2020056480 |
| ISBN |
9781501760266 |
|
1501760262 |
|
9781501760259 |
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1501760254 |
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