Scott McCleskey

Senior Moody's Executives: There's a Culture of Covering Up Improper Ratings

George Washington's Blog (Free subscription) | 10/01/2009

Reuters notes : Two former Moody's executives, in testimony at a House Oversight and Government Reform Committee hearing, said workers were encouraged to remain silent and cover up evidence of alleged improper practices in assigning and monitoring credit ratings. The two "described a culture of secrecy, a place where putting things in writing was frowned upon," said Rep. Edolphus Towns, the...

Richard Cantor: Moody's Exec Denies Claims Of Inflated Ratings

The Huffington Post (Free subscription) | 09/30/2009

WASHINGTON — The chief credit officer of Moody's Investors Service told Congress Wednesday that a former analyst's allegations of inflated ratings and conflicts of interest at the firm are groundless. Richard Cantor testified that the firm reviewed the complaints by ex-analyst Eric Kolchinsky, who was suspended from his job, and found them to be "unsupported." Kolchinsky has refused...

Opening Bell: 09.30.09

DealBreaker (Free subscription) | 09/30/2009

John Mack Proposes Single Global Regulator (Bloomberg) "A better system would be one uber-regulator," Mack said in an interview in New York with Bloomberg TV. "We do need an overall systemic-risk management that everyone buys into. It's not a U.S. systemic boundary -- it's a global systemic risk manager." CIT Said To Weigh Financing From Citigroup, Barclays (Bloomberg) Diamond...

• CIT scrambling for 11th-hour rescue: report - Market Watch
• CIT Group may hand control to bondholders: WSJ - Market Watch

Moody’s Ex-Compliance Head Scott McCleskey to Testify

CEOWORLD Magazine (Free subscription) | 09/30/2009

The former head of compliance at credit ratings agency Moody’s Scott McCleskey today claimed that he was regularly ignored when he warned that the firm was not properly monitoring the ratings on municipal bonds. Scott McCleskey, who is scheduled to testify on Wednesday at a U.S. House of Representatives Oversight and Government Reform Committee hearing, said [...]

Ex-Moody's employee warned SEC about muni issues

San Fransisco Chronicle (Free subscription) | 09/30/2009

A former employee of Moody's Investors Service warned federal regulators in March about deficiencies in the credit rating agency's monitoring of municipal bonds after being rebuffed by Moody's executives, a document shows. Scott McCleskey, who was a senior... Sponsored Topics: Moody - US Securities and Exchange Commission - Credit rating - Business - Municipal bond