Alex Moore
Almonte: Good at grandstand, but not negotiating
The third candidate for Treasurer, Ernest Almonte, never replied back to me after repeated attempts of reaching out to him. I therefore can’t say what his position is about standing up to the ratings agencies and their deceptive ratings practices. During his campaign, Almonte has been critical of exploring all options before making a decision on […]
Magaziner: Explore any legal avenue to limit cost to taxpayers
Candidate for Treasurer Seth Magaziner says that he has a history of standing up to big Wall Street firms, highlighting his work as the author of a shareholder proposal to break up Citigroup. He has worked at Trillium Asset Management, a socially responsible investment firm, for the last four years. Magaziner said in an email to me: […]
Caprio: Ratings agencies hands weren’t clean in 38 Studios deal
Former Treasurer (and current candidate for Treasurer) Frank Caprio reached out to me concerning my stories about the deceptive ratings practices of the ratings agencies. According to Caprio, the ratings agencies hands weren’t clean in the 38 Studios deal because they did in fact overrate the bonds. Furthermore, Caprio asserts that if he is re-elected […]
Ratings agencies lose appeal but will RI stand up to them?
This is a quick update to a couple of stories I’ve written about how ratings agencies should be held liable for their deceptive ratings practices. You can read them here and here. An appeals court just rejected the ratings agencies claims that the opinions they expressed in a case involving the CA pension system were […]
Will Kilmartin stand up to the ratings agencies?
In a recent post, I highlighted how the US Department of Justice is suing ratings agency S&P concerning their suspicious ratings practices that essentially fueled the financial crisis. In the same post, I also wrote about how I believe ratings agencies S&P and Moody’s also artificially inflated the 38 Studios bond ratings as investment grade. Although […]
Ratings agencies knew they were serving rotten sausage
If the ratings agencies are wrong to consider lowering Rhode Island’s credit rating for not making payment on the 38 Studios bond, they were really wrong when they gave the 38 Studios bonds an investment grade rating in the first place. 38 Studios was always a risky investment, and the state never had a legal […]
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