The Associated Press: Ex-Moody's employee warned SEC about muni issues

The Associated Press: Ex-Moody's employee warned SEC about muni issues

There are two congressional hearings today on rating agencies.

One is House Oversight at 10am. Info on the House Oversight Hearing today is at http://oversight.house.gov/story.asp?ID=2614. No evidence that this will be live-streamed.

The witnesses scheduled to testify are:

PANEL I

Mr. Ilya Eric Kolchinsky
Former Managing Director
Moody’s Investors Service

Mr. Scott McCleskey
Former Senior Vice President for Compliance
Moody’s Corporation

Mr. Richard Cantor
Chief Risk Officer
Moody’s Corporation
and
Chief Credit Officer
Moody’s Investors Service

PANEL II

Senator Alfonse M. D’Amato
Former Chairman
Senate Committee on Banking

Mr. Floyd Abrams
Partner
Cahill Gordon & Reindel, LLP

Mr. Eric Baggesen
Senior Investment Officer
California Public Employees Retirement System (CalPERS)

Professor Lawrence J. White
Leonard N. Stern School of Business
New York University

Information on the House Financial Services Committee hearing today is at http://www.house.gov/apps/list/hearing/financialsvcs_dem/pressCM_093009.shtml

Witnesses expected are:

• Mr. Daniel M. Gallagher, Co-Acting Director, Division of Trading and
  Markets, U.S. Securities and Exchange Commission
• Mr. Raymond McDaniel, Chairman and Chief Executive Officer, Moody's
  Corporation
• Mr. Deven Sharma, President, Standard & Poor's
• Mr. Stephen W. Joynt, President and Chief Operating Officer, Fitch Inc.
• Mr. Robert Dobilas, President and Chief Executive Officer, RealPoint LLC
• Mr. James H. Gellert, President and Chief Executive Officer, Rapid Ratings
  International Inc.
• Mr. Kurt Schacht, Managing Director, CFA Institute Centre for Financial Market Integrity

This hearing is being live-streamed from the committee's website.

Charlie Gasparino has a book...and rating agencies will not be thrilled...

Gasparino’s book, The Sellout, goes on sale in November. If this interview is any indication of how he feels about the rating agencies, the book probably will not be on the reading lists for the credit training classes the agencies run.

 

Off the Record - CNBC.com

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