Rob Monks is on the Ethical Markets Advisory Board for Corporate and Government Accountability Research. Watch his videos discussing the derivatives market.
A very big week for hearings with Goldman Sachs executives testifying before the Subcommittee on Investigations and another hearing with Senator Levin investigating the role of the ratings agencies in the financial crisis. CNNMoney is now reporting that the SEC has referred the Goldman Sachs case to the Justice Department for possible criminal prosecution for fraud.
Bob talked on video yesterday about SEC suit against Goldman Sachs and the recent hearings. The first clips below feature a four-part series of Bob describing how the ratings work and why the current system is not working. More to come on Friday and Monday.
And, Bob does read your comments and feedback so please be in touch at info@ragm.com.
Ratings Agencies part 1: A Cancer in the Derivatives Market
Ratings Agencies part 2: Tailor Made Ratings
Ratings Agencies part 3: The Model Doesn’t Work
Ratings Agencies part 4: Untenable