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Search by topic:   18687. Credit-Rating Agencies and the Global Financial Crisis. This paper addresses the role of credit-rating agencies (such as Moody’s, Standard & Poor’s, AM Best and Fitch) in triggering the global financial crisis during the summer of 2007. The agencies had pooled securitized mortgages with high ratings at the same time that lenders were selling subprime loans to homeowners with bad credit. When homeowners began to default on their loans, the agencies downgraded the ratings, which triggered a negative reaction among lenders as well as investors. It is argued that the financial crisis stemmed from conflicts of interest, a lack of competition, and the complexities in understanding pooled investments. Recommendations are offered for reforming the system. Includes outline. KEYWORDS: bond credit rating agency subprime mortgage crisis CRAs collateralized debt obligations financial housing crisis. APA Style. 12 pages, 45 footnotes, 8 bibliographic sources. 3,085 words.   $84 Copyright 1998-2018 Berkeley Research