Expect[ed] Loss

I often ask myself how valuable any sell-side research can be, given the obvious conflicts being suffered through by a banks’ research team....

The role of the credit rating agencies in the recent financial crisis has been highlighted by numerous investigations including the Financia...

“Fortuna's wheel had turned on humanity, crushing its collarbone, smashing its skull, twisting its torso, puncturing its pelvis, sorrow...

The concept of conflicted opinions is dear to us. When a conflict is more than a conflict it has the power to put the conflicted party in a ...

The debt ceiling debacle has rejuvenated the discussion about the adequacy and effectiveness of sovereign credit ratings, as they're cur...

This is a second piece on the topic of sovereign debt and ratings, by guest author Marc Joffe*. You can access his prior piece here: US Debt...

By guest author Marc Joffe* News reports and punditry reveal a shocking ignorance of the role played by rating agencies in the US deficit de...

The Philadelphia Fed’s June 2011 working paper provides a welcome addition to the conspicuously deficient body of literature on the topic o...

The Abacus CDO story of 2010 brought to the fore a worrisome scenario in which it could be argued that the arranging bank (Goldman Sachs) pl...

The TruPS CDO market has shown renewed signs of life over the last six or so months, for the first time really since 2007. While the rating ...