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To the brink of destruction : America's rating agencies and financial crisis /
"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 p...
| Clasificación: | Libro Electrónico |
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| Autor principal: | |
| Formato: | Electrónico eBook |
| Idioma: | Inglés |
| Publicado: |
Ithaca [New York] :
Cornell University Press ,
2021.
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| Colección: | Cornell studies in money.
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| Temas: | |
| Acceso en línea: | Texto completo |
| Sumario: | "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."-- |
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| Descripción Física: | 1 online resource (xiii, 210 pages). |
| Bibliografía: | Includes bibliographical references and index |
| ISBN: | 9781501760266 1501760262 9781501760259 1501760254 |