Moody's

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Moody's Corporation, according to Hoovers, "publishes credit ratings and other financial information on more than 100,000 commercial and government entities in about 100 countries." Ratings are given on bonds, managed funds, and insurance companies, using letters ranging from "Aaa" to "C". The company is based in New York City. [1]

In 2008, revenue was US$1.755 billion with profits of US$457.6 million.[1]

Financial crisis

Contribution to the crisis

Moody's was one of the ratings agencies that gave the highest 'aaa' ratings to "toxic" instruments such as collatoralized debt obligations (CDOs) that later turned out to be very low quality debt instruments. The high rating enticed institutions to purchase these instruments, leading to defaults that spread throughout the financial system.[2]

Lobbying

Moody's spent $820,000 for lobbying in 2006, all of it going to the lobbying firm Akin, Gump, Strauss, Hauer & Feld. [3]

Personnel

Key executives and 2006 pay: [4]

Selected members of the Board of Directors: [8]

Contact details

99 Church Street
New York, NY 10007
Phone: 212-553-0300
Fax: 212-553-4820
Web: http://www.moodys.com

Articles & resources

References

  1. 1.0 1.1 Moody's Corporation Profile, Hoovers, accessed October 11, 2009.
  2. Section 12, beginning page 93, Sold Out - How Wall Street and Washington Betrayed America , Consumer Education Foundation, March, 2009.
  3. Moody's Corp lobbying expenses, Open Secrets, accessed December 2007.
  4. Executive Officers, Moody's, accessed December 2007.
  5. Raymond W McDaniel Jr, Forbes, accessed December 2007.
  6. Linda S Huber, Forbes, accessed December 2007.
  7. John J Goggins, Forbes, accessed December 2007.
  8. Board of Directors, Moody's, accessed December 2007.

External resources

External articles

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