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Detailed text transcripts for TV channel - MSNBC - 20100513:20:36:00

The new york attorney general s office has launched a look at eight banks to determine whether they gave fake information to ratings agencies, the theoretical check and balance that is highly broken in order to gain good marks for their risky securities. if i goç to you, you tell me tt i ll have a aaa and we sell that junk to turkey and we re good to go. are the big banks sweating yet? we don t think so. however, incumbent politicians are starting to. abandoning the banksters and fighting for the people s party might be the only shot that some of these people have to keep their jobs. today senators h s had more cha to prove whose side they re on. one proposal offered by senator al franken that could put a whole lot of heat on the current credit rating system, where the current credit ratings agencies work for the banks. it passed with bipartisan spofr, 64-35. under franken s bill, banks would no longer be allowed to hand-pick which rating agency ....

New York Attorney Generals Office , Ratings Agencies , Peoples Party , Senator Franken , Senators Hs , Rating Agency , Credit Rating System , Credit Ratings Agencies , Hand Pick , Bipartisan Spofr ,

Detailed text transcripts for TV channel - MSNBC - 20100510:20:37:00

Now, we just had a house on fire a few years ago in our own country and we now have financial reform bill where no one wants to restructure the house to prevent it from burning, you ll forgive me for my cynicism to a group of people who are happy to give away trillions of dollars of other people s money to protect their own jobs under the guise that it s is a fire that must be put out. i wonder what british petroleum feels about their fire in the gulf of mexico or all of the amendments that are not being put forth or not done in the financial reform bill. did you know actually did both of you know that ratings agencies still work for the banks in this country? the same ratings agencies that rate triple-a debt out of european countries that you are paying off with our money, same that rate the deal sold out of goldman sachs which is a derivative of derivatives paid off and vetted by the ratings agencies. none of that has been changed. it s brilliant. ....

White House , Reform Bill , House On Fire , Gulf Of Mexico , Rate Triplea Debt , Ratings Agencies , Goldman Sachs ,

Detailed text transcripts for TV channel - MSNBC - 20100430:20:01:00

Exercise. and then you go find a sucker to take the other side of the bet. ideally, a dumb german. if you need proof that this is a clear conflict of interest, i want you to look at this chart here. these are all aaa investments, imagine you re a pension fund manager. aaa from the ratings agencies and look at the yield, the amount of interest that they pay, the cdo s, the things that you re talking about from the goldman sachs inkwir arieinquii everything else. if it looks too good to be true, you ve heard this? it is. and here s the thing, we have yet to see even an amendment to fix the conflict of interest that leads to that level of corruption. although senators like carl levin have promised they ll come up with one, it has yet to hit the floor. again, we ask, where will your senators stand when it comes to the cops working for the crooks and the conflict of interest that exists right now to the advantage of the finance industry and the detriment of america and its future? and most ....

Conflict Of Interest , Pension Fund Manager , Ratings Agencies , Goldman Sachs , Inkwir Arieinquii , Everything Else , Senator Levin , Finance Industry ,

Detailed text transcripts for TV channel - FOXNEWS - 20100429:19:17:00

Goldman whereby goldman agrees to a different standard of behavior. the win for the government is not just money, it s an agreement that in the future, these credit default swaps and other exotic instruments will be traded differently and here s the way they will be traded. whatever the here s is part is will be simple and easy and fair. there s a financial overhaul package working through. democrats have one and i guess republicans have one. neither side has suggested even in any proposed legislation that the ratings agencies, which give us an idea about how solid the investments may or may not be shall the ratings agencies would continue to work for the banks, the banks could continue to pay salaries and control the ratings agency. that s up to the government to resolve, to separate the banks but from the ratings agencies but if goldman gives away a lot and agrees to a significant change in behavior, ....

Goldman Sachs , Credit Default Swaps , Ratings Agencies , Ratings Agency ,

Detailed text transcripts for TV channel - CNN - 20100428:00:22:00

Insurance for companies that wanted to be able to point to a little document to justify what they did, not as a meaningful measure of whether or not these were bonds that would be repaid. it s cleared william do, you agree? yes, i do agree with eliot. clearly investigators abdicated their responsibility to do the due diligence that they were required to do on behalf of the people whose money they were investing. they just took the agency rating as gospel and went with it. little did they know or should have known that the rating agencies were paid by residents to get the ratings that they wanted. i mean, all the world is a stage, as shakespeare said. i think everybody in this drama played their roles. and it s unfortunate that they all work together in a way that hurt the american economy, the american people, and our treasury. i mean, $12 trillion later, we re still digging out of this. and can i add one other thing? bill has made this point so well in so many pieces of writ ....

Rating Agencies , Due Diligence , Ratings Agencies , 2 Trillion , 12 Trillion ,