To the brink of destruction : America's rating agencies and financial crisis / Timothy J. Sinclair.

Format:

Book

Author/Creator:

Sinclair, Timothy J., author.

Series:

Cornell studies in money.

Cornell scholarship online.

Cornell studies in money

Cornell scholarship online

Language:

English

Subjects (All):

Rating agencies (Finance)--United States.

Rating agencies (Finance).

Global Financial Crisis, 2008-2009.

Financial crises--United States.

Financial crises.

Physical Description:

1 online resource (xiii, 210 pages)

Place of Publication:

Ithaca : Cornell University Press, 2022.

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.

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 & all-purpose bogeymen

I'll be gone. You'll be gone.

Notes:

Previously issued in print: 2021.

Includes index.

Includes bibliographical references and index.

Description based on online resource; title from PDF title page (viewed on May 3, 2022).

ISBN:

9781501760259

1501760254

OCLC:

1228221412