Moody’s Corp. ignored signals that housing prices would decline and assigned triple-A ratings to mortgage securities like characters from “I Love Lucy,” said Phil Angelides , chairman of the Financial Crisis Inquiry Commission.
U.S. Representative Darrell Issa is asking the Financial Crisis Inquiry Commission to explain its spending after the panel probing the 2008 credit market collapse requested that Congress supplement its $8 million budget.
Warren Buffett , compelled by subpoena to testify, backed Moody’s Corp. at a hearing yesterday, the second time in two months he defended a Berkshire Hathaway Inc. holding against criticism it misled investors.
Democrats on the Financial Crisis Inquiry Commission , the panel assigned to probe the worst U.S. economic collapse since the Great Depression, voted to delay the group’s final report on its findings amid Republican opposition.
Gayle McLaughlin marched in Occupy Wall Street protests and rails against “corporate domination.” Now, as mayor of Richmond, California, the largest U.S. city with a Green Party leader, she wants to seize home loans and make lenders take less than they’re owed to help residents.
Andrew Forster , an executive of American International Group Inc. ’s derivatives unit, said he was surprised that the insurer’s managers were unaware of collateral-posting requirements included in the contracts.