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To the Brink of Destruction : America's Rating Agencies and Financial Crisis / Timothy J. Sinclair.

By: Material type: TextTextSeries: Cornell Studies in MoneyPublisher: Ithaca, NY : Cornell University Press, [2021]Copyright date: ©2021Description: 1 online resource (228 p.) : 3 b&w line drawingsContent type:
Media type:
Carrier type:
ISBN:
  • 9781501760242
  • 9781501760266
Subject(s): DDC classification:
  • 332.1/78 23
LOC classification:
  • HG3751.7 .S563 2021
Other classification:
  • online - DeGruyter
Online resources:
Contents:
Frontmatter -- Contents -- Preface -- 1 Introduction -- 2 The Agencies and What They Do -- 3 How to Think about the Agencies -- 4 The Agencies and Financial Innovation -- 5 Cogs in the Wheel of Financial Destruction -- 6 Aftermath -- 7 Addendum: Convenient Villains and All-Purpose Bogeymen -- 8 I’ll Be Gone. You’ll Be Gone -- Index
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 with 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, the agencies among them, changed from being judges to advocates years before the crisis, eliminating a vital safety valve meant to hinder financial excess. Sinclair's well-researched investigation offers a clear, accessible explanation of structured finance and how it works. To the Brink of Destruction avoids tired accusations, instead providing novel insight into the role rating agencies played in the worst crisis of modern global capitalism.
Holdings
Item type Current library Call number URL Status Notes Barcode
eBook eBook Biblioteca "Angelicum" Pont. Univ. S.Tommaso d'Aquino Nuvola online online - DeGruyter (Browse shelf(Opens below)) Online access Not for loan (Accesso limitato) Accesso per gli utenti autorizzati / Access for authorized users (dgr)9781501760266

Frontmatter -- Contents -- Preface -- 1 Introduction -- 2 The Agencies and What They Do -- 3 How to Think about the Agencies -- 4 The Agencies and Financial Innovation -- 5 Cogs in the Wheel of Financial Destruction -- 6 Aftermath -- 7 Addendum: Convenient Villains and All-Purpose Bogeymen -- 8 I’ll Be Gone. You’ll Be Gone -- Index

restricted access online access with authorization star

http://purl.org/coar/access_right/c_16ec

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 with 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, the agencies among them, changed from being judges to advocates years before the crisis, eliminating a vital safety valve meant to hinder financial excess. Sinclair's well-researched investigation offers a clear, accessible explanation of structured finance and how it works. To the Brink of Destruction avoids tired accusations, instead providing novel insight into the role rating agencies played in the worst crisis of modern global capitalism.

Mode of access: Internet via World Wide Web.

In English.

Description based on online resource; title from PDF title page (publisher's Web site, viewed 01. Dez 2022)