I want to keep in front of everyone the market info coming from the Weiss Research team. Among the latest is their re-acquisition of their proprietary rating service. With that, Dr. Weiss comes out with guns blazing...
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Later this morning, Weiss Ratings is issuing a landmark press release, warning that 20 giant U.S. banks are still vulnerable to serious financial difficulties — and even failure. (I’ll name them in a moment.) ("Weiss Ratings: 20 Giant Banks Still Vulnerable," 05-24-10)
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Prior to that, Martin Weiss issued this interesting challenge to the other high profile rating services...
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Dear S&P, Moody’s, and Fitch,
You are the world’s three dominant rating agencies, largely controlling the ratings of bonds and debts issued by thousands of corporations, municipalities, and sovereign governments. I am the chairman of Weiss Ratings, an independent rating agency. And today, I challenge you to promptly take the bold action that you have so far avoided — to downgrade the long-term credit rating of the U.S. government in order to help protect investors and prod Washington to fix its finances. ("Weiss Ratings’ challenge to S&P, Moody’s, and Fitch: Downgrade the Long-Term Debt of the United States Before It’s Too Late," 05-10-10)
You are the world’s three dominant rating agencies, largely controlling the ratings of bonds and debts issued by thousands of corporations, municipalities, and sovereign governments. I am the chairman of Weiss Ratings, an independent rating agency. And today, I challenge you to promptly take the bold action that you have so far avoided — to downgrade the long-term credit rating of the U.S. government in order to help protect investors and prod Washington to fix its finances. ("Weiss Ratings’ challenge to S&P, Moody’s, and Fitch: Downgrade the Long-Term Debt of the United States Before It’s Too Late," 05-10-10)
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Plenty more to be found at Money & Markets.
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