Forum Topic

Moody's make & break a Countries Financial Standing.

This company has been at the head of so many countries monetary problems, so I looked them up below shows how they started, however they are so big now that with a blink of an eye they can destroy the economy of a country. This should not be either allowed or tolerated as they themselves have a vast interest in financial markets.Moody's Corporation (NYSE: MCO) is the holding company for Moody's Analytics and Moody's Investors Service, a credit rating agency which performs international financial research and analysis on commercial and government entities. The company also ranks the credit-worthiness of borrowers using a standardized ratings scale. It is one of the Big Three credit rating agencies and has a 40% share of the world market, as does its main rival, Standard & Poor's;[2] Fitch Ratings has a smaller share.[3]Moody's was founded in 1909 by John Moody. The top institutional owner and only shareholder holding more than 5% of all shares of Moody's is Warren Buffett's company Berkshire Hathaway, holding a share of ~13%.[4]

Dawn Hardy ● 5053d9 Comments

"Good job your not a naturist Tony.  ;-)"Eeeugh!!!  You dirty boy!

Tony Wood ● 5048d

When the kids & grandchildren are here it normally is granddad can we have more. I'm sure you are still a handsome man, my Dee certainly is he still looks like Paul Newman although the hair is Silver now not Blonde.

Dawn Hardy ● 5049d

Good job your not a naturist Tony.  ;-)

Keith Iddon ● 5049d

"that is quite frightening is it not."Well I'd be a bit frightened if one of my family said it over dinner.   The worst I've had  was "Grandad your face needs ironing."

Tony Wood ● 5049d

Do we hear any great ideas coming from the Shadow Cabinet of course not as they were the ones that put us in this position in the first place. If they would all work together as they should do, we might just might see a light at the end of the tunnel.

Dawn Hardy ● 5049d

Alan it isn't the case that I am ignorant, it is that there are 3 main rating agencies Worldwide that have the yea or nay on whether a bank or a country is financially downgraded, that power can be misused.When we were having dinner at the weekend one of our guests came out with this, Moody's are as powerful as J.Edgar Hoover was that is quite frightening is it not.

Dawn Hardy ● 5049d

More to the point why is this government not taking action against Lloyds and RBS over this disgraceful edict that people with basic bank accounts won't be allowed to use the ATM's of other banks? Given the government (the taxpayer - me and you) is the major shareholder in these banks they should order these organisations to drop this idea pronto. Banks are supposed to be helping people not penalising them. It makes me sick to hear that sneering git Osborne and the former saint Vincey boy, talking about how they're going to take on the banks, if they can't sort out the ones we have a big stake in - no prizes for guessing how much they'll accomplish with the others. These bankers must be laughing all the way to their yachts at the pathetic talk of these two impotent cretins.

Vanessa Smith ● 5050d

Dawn, there are a number of rating agencies - Moody's, S&P, etc. They provide financial and risk assessments of companies as well as countries. They aim to provide independent, informed and objective assessments - although on occassion this accuracy is not always as defendable as it could be. For example, why was Greece not rated worse when all these loans were being granted or why was Enron so highly rated right up to just before its collapse?However, the role these agencies play is crucial to balance the spin and presentation (and bull) of the company or government themselves. If the rating is unpopular do not necessarily blame those doing the rating. Perhaps the blame sits with the organisation themselves. The rating is merely a reflection of the situation and issues at hand.(And if you are ignorant of a topic, perhaps best to ask before making a claim or statement. Just a thought.)

Alan Clark ● 5050d

No worries people, Moody's have said that although they have downgraded 12 of our banks it is in no way a reflection on our economy. Countries and Stock Markets all round the world act upon this agency-WHY?

Dawn Hardy ● 5050d