Word: holdings
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...October, and in April new regulations will go into effect, largely to address what is often painted as the Achilles heel of the ratings system: companies typically pay to have their own debt rated, therefore creating a massive conflict of interest for the ratings agencies, which want to hold onto that business. (See "How to Know When the Economy Is Turning Up".) Favorably rating structured finance products - including Frankenstein creations like synthetic collateralized debt obligations - became a major source of profits for the ratings agencies during the boom years. By mid-2007, some 37,000 issues earned top marks; thousands...
...rules fall far short. Including, it seems, the SEC's new chairman, Mary Schapiro. In congressional testimony on March 11, two months after she was confirmed to her post, Schapiro said, "I'm not sure if it's enough, to be perfectly honest." On April 15, the SEC will hold a roundtable, to hear from the ratings firms about what they have done to improve things on their own, and also from people who think the entire issuer-pays model needs to be scrapped. "There have been some very thoughtful proposals out there, and we've invited those people...
...that in July. The agency suggested changing a number of its ratings-based regulations since the use of the NRSRO designation "may have encouraged investors to place undue reliance on the credit ratings issued by these entities." One example: money market mutual funds, which are currently only allowed to hold high-grade paper. High-grade - as defined by the ratings agencies. In comments responding to the proposed rule change, sellers of money market funds balked at the idea of not being able to use the ratings agencies' opinions as a way to get the regulatory greenlight. That proposed rule hasn...
While the study only looked at one newspaper, if the larger findings hold true, it?s not just areas in which a newspaper folds that will be affected. Municipalities covered by newspapers that have sharply scaled-back newsrooms, such as the Newark Star-Ledger, may also see similar trends emerging, because the papers simply cannot cover as much local news as they had previously...
...accepting the money sound especially forced when a financial aid snafu later reveals how badly he could use it.The film relies predominantly on unfortunate stereotypes that place characters in racially charged scenarios. The out of touch, all-white administration’s only response to campus racism is to hold forums on race for the entire school. Predictably, these forums devolve into a brawl. The liberal white students feel unfairly blamed for mistreating the minority students. The minority students want to be called “students of color.” Patrick yells about having to compromise...