8:47
Justice Dept. probes S&P; for overrating mortgage securities that led to crash -- August 18, 2011
Justice Dept. probes S&P; for overrating mortgage securities that led to crash -- August 18, 2011
S&P; helped cause the economic problems which led to S&P; then downgrade the US
7:38
Did the US retaliate against S&P; for the credit downgrade?
Did the US retaliate against S&P; for the credit downgrade?
Stephanie Condon speaks with John Taylor of the National Community Reinvestment Coalition about the Justice Department's investigation into whether influential ratings agency S&P; gave better than deserved ratings to mortgage backed securities and helped fuel the financial crisis.
9:43
Peter Schiff Video Blog - April 18, 2011
Peter Schiff Video Blog - April 18, 2011
For the latest Peter Schiff, go to PeterSchiffBlog.com - This isn't quite a date that will live in infamy, but it is a significant date nonetheless. S&P; actually expressed concerned over the credit rating of the United States. The US has always enjoyed a AAA credit rating, but now S&P; has stated that they are concerned enough that they are going to watch the rating more carefully. But what took them so long? They should have been concerned about this since Bush's first term in office. A AAA rating should only be reserved for nations with no deficit whatsoever. There should be no risk of default and no risk of inflation. If people invest in soverign bonds, investors should have no doubt that they should get their money, and they should be confident that they will get their money back in money that hasn't been devauled. At what point in time will S&P; actually downgrade the US to AA? When they are about to default or when hyperinflation is already here? They minute that you think there is a possibility that there could be a problem, the credit rating should be downgraded. That's what S&P; should be doing right now. The smart money is betting that the US government isn't going to do the right thing to put their fiscal house in order. The whole thing just shows how much these credit ratings are just political nonsense. The whole thing is a complete farce. S&P; and the US government has a much too cozy relationship. They are too scared to tell the truth and actually downgrade the
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4:55
Financial Crimes: a 21st Century Epidemic
Financial Crimes: a 21st Century Epidemic
Extract of CNBC News Broadcast, Fri 10 Aug 12 Goldman Sachs Avoids Prosecution - Has Justice Been Served? The justice department won't be pursuing criminal charges against Goldman Sachs or its employees over its big short bets on the housing market several years ago. For The Full Video Visit: video.cnbc.com Extract of hearing Credit Rating Agencies and the Next Financial Crisis, House Committee on Oversight & Government Reform Sep 30, 2009 For The Full Video Visit: oversight.house.gov Related: The Two Documents Everyone Should Read to Better Understand the Crisis by William K. Black, Sr. regulator during S&L; debacle, Feb 25, 2009 www.huffingtonpost.com FBI warns of mortgage fraud 'epidemic' by Terry Frieden, CNN Washington Bureau Sep17, 2004 edition.cnn.com Financial Institution Fraud and Failure Report, Nov 3, 2004 www.fbi.gov Credit Rating Agencies and the Next Financial Crisis, Sep 30, 2009 House Committee on Oversight & Government Reform oversight.house.gov Krugman Now Sees the Perversity of Economics' "Culture of Fraud" By William K. Black, Aug 11, 2012 neweconomicperspectives.org How the Federal Reserve Fought to Cover Up the Details of the AIG Counterparties Bailout From the American People, Jan 25, 2010 oversight.house.gov January 25, 2010 Wall Street and the Financial Crisis Anatomy of a financial collapse, Apr 13 2011 hsgac.senate.gov In Financial Crisis, No Prosecutions of Top Figures By Gretchen Morgenson and Louise Story, Apr 14, 2011 www.nytimes.com
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51:44
Automobile Sales, Syria, Israel, Status of Jerusalem, US Credit Rating Downgrade (2012)
Automobile Sales, Syria, Israel, Status of Jerusalem, US Credit Rating Downgrade (2012)
thefilmarchive.org July 27, 2012 CRAs such as S&P; have been subject to criticism in the wake of large losses beginning in 2007 in the collateralized debt obligation (CDO) market that occurred despite being assigned top ratings by the CRAs. Credit ratings of AAA (the highest rating available) were given to large portions of even the riskiest pools of loans. Investors trusting the low-risk profile that AAA implies, purchased large amounts of CDOs that later became unsaleable. Those that could be sold often took staggering losses. For instance, losses on $340.7 million worth of CDOs issued by Credit Suisse Group added up to about $125 million, despite being rated AAA by S&P.;[17] Companies pay S&P; to rate their debt issues. As a result, some critics have contended that S&P; is beholden to these issuers and that its ratings are not as objective as they ought to be and that, in fact, this "pay to play" model makes their ratings meaningless at best and perhaps would more accurately be compared to the role of the "shill" in a game of three card monte. In April 2009, the company called for "new faces" in the Irish government, which was seen as interfering in the democratic process. In a subsequent statement they said they were "misunderstood".[18] Some critics have pointed out that the company and other rating agencies were part of the cause of the global financial crisis of 2008--2009, for example when Moody's downgraded Freddie Mac[19] or, to quote Time, when "both agencies
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87:24
Calling All Cars: Missing Messenger / Body, Body, Who's Got the Body / All That Glitters
Calling All Cars: Missing Messenger / Body, Body, Who's Got the Body / All That Glitters
The Los Angeles Police Department (LAPD) is the police department of the city of Los Angeles, California. The LAPD has been copiously fictionalized in numerous movies, novels and television shows throughout its history. The department has also been associated with a number of controversies, mainly concerned with racial animosity, police brutality and police corruption. The radio show Calling All Cars hired LAPD radio dispacher Jesse Rosenquist to be the voice of the dispatcher. Rosenquist was already famous because home radios could tune into early police radio frequencies. As the first police radio dispatcher presented to the public ear, his was the voice that actors went to when called upon for a radio dispatcher role. The iconic television series Dragnet, with LAPD Detective Joe Friday as the primary character, was the first major media representation of the department. Real LAPD operations inspired Jack Webb to create the series and close cooperation with department officers let him make it as realistic as possible, including authentic police equipment and sound recording on-site at the police station. Due to Dragnet's popularity, LAPD Chief Parker "became, after J. Edgar Hoover, the most well known and respected law enforcement official in the nation". In the 1960s, when the LAPD under Chief Thomas Reddin expanded its community relations division and began efforts to reach out to the African-American community, Dragnet followed suit with more emphasis on internal
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