Credit rating firms criticised over financial crisis BBC.com The behaviour of two credit rating agencies in the run-up to the financial crisis has been criticised by US senators following an investigation. The Senate committee said Moody’s and Standard & Poor’s instilled “unwarranted high confidence” in certain risky financial products. It also said that they were [...]
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US consumer credit unexpectedly falls in Feb WASHINGTON, April 7 (Reuters) – U.S. consumer credit unexpectedly tumbled in February, reversing the prior month’s surprise increase, as households refrained from taking on new debt in favor of deleveraging. February’s total consumer credit outstanding dropped $11.51 billion or at a 5.62 percent annual rate to $2.45 trillion, [...]
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