The Japan TimesMoody’s downgrade of the U.S. credit rating reflects growing concern over Washington’s unwillingness to confront rising debt, soaring deficits and interest costs — even as global investors keep piling into Treasuries. https://www.japantimes.co.jp/commentary/2025/05/19/moodys-us-debt/?utm_medium=Social&utm_source=mastodon #commentary #us #debt #bonds #moodys #spglobalratings #fitchratings #ratingsagencies
SoftBank Group is contemplating legal action against Moody's Ratings over its publication of unsolicited ratings, the latest of which put the tech-focused holding company in the junk bond category. https://www.japantimes.co.jp/business/2024/11/28/companies/softbank-moodys-rating/?utm_medium=Social&utm_source=mastodon #business #companies #softbank #bonds #investments #sp #ratingsagencies #moody039s
Emeritus Prof Christopher MayMy late fellow academic Prof. Tim Sinclair spent much of his career warning about the power of #ratingsagencies.
Now the FT is reporting that these agencies are predicting that unless countries find a way to limit their exposure to the costs of an elderly & increasingly sick population their credit ratings (on which the interest rate for public finances is partly based) will be downgraded...
Result: states will be looking to cut the #publicsector.
see his last book:
https://www.cornellpress.cornell.edu/book/9781501760242/to-the-brink-of-destruction/
To the Brink of Destruction by Timothy J. Sinclair | Hardcover | Cornell University Press
To the Brink of Destruction exposes how America's rating agencies helped generate the global financial crisis of 2007 and beyond, surviving and thriving in the aftermath. Despite widespread scrutiny,...