McGraw-Hill Plummets After Australian Court Ruling – Bloomberg<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"An Australian judge has found S&P [MHP] liable for its opinion in assigning AAA ratings to two ABN Amro structured debt issues in 2006, which lost over 90% of value during the GFC — the first time a ratings agency has been held liable for such an opinion. S&P was \u201cmisleading and deceptive\u201d in its … <\/p>\n
Continue reading “Australian court finds S&P liable for ratings opinion | Bloomberg”<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[40,47,22,34],"tags":[105,1893,2263,2856,3223,3270],"class_list":["post-6016","post","type-post","status-publish","format-standard","hentry","category-australia-nz-countries-regions","category-derivatives","category-other","category-us-canada-countries-regions","tag-aaa","tag-investment-grade","tag-mcgraw-hill","tag-ratings-agency","tag-standard-poors","tag-structured-debt"],"yoast_head":"\nAustralian court finds S&P liable for ratings opinion | Bloomberg - the patient investor<\/title>\n<meta name=\"robots\" content=\"noindex, follow\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Australian court finds S&P liable for ratings opinion | Bloomberg - the patient investor\" \/>\n<meta property=\"og:description\" content=\"An Australian judge has found S&P [MHP] liable for its opinion in assigning AAA ratings to two ABN Amro structured debt issues in 2006, which lost over 90% of value during the GFC — the first time a ratings agency has been held liable for such an opinion. 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Moody's stripped the big four banks - the Australia and New Zealand Banking Group (ANZ), Commonwealth Bank of Australia\u2026","rel":"","context":"In "Stock Markets"","block_context":{"text":"Stock Markets","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/stock-markets\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":153,"url":"https:\/\/thepatientinvestor.com\/index.php\/2011\/08\/10\/did-standard-and-poors-break-sec-regulations-in-disclosing-its-downgrade-to-select-parties-naked-capitalism\/","url_meta":{"origin":6016,"position":1},"title":"Did Standard and Poor\u2019s Break SEC Regulations in Disclosing Its Downgrade to Select Parties? \u00ab naked capitalism","author":"ColinTwiggs","date":"August 10, 2011","format":false,"excerpt":"There is a much more straightforward basis for questioning S&P\u2019s conduct, and it has nothing to do with how S&P arrived at its rating. There is compelling evidence that the ratings agency made selective disclosure of its downgrade decision before it made it public last Friday evening. A reader told\u2026","rel":"","context":"In "Debt Levels"","block_context":{"text":"Debt Levels","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/economy\/debt-levels\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":61687,"url":"https:\/\/thepatientinvestor.com\/index.php\/2025\/05\/17\/the-elephant-in-the-room-3\/","url_meta":{"origin":6016,"position":2},"title":"The elephant in the room","author":"Colin Twiggs","date":"May 17, 2025","format":false,"excerpt":"Summary The elephant in the room is $37 trillion of US fiscal debt Rising long-term interest rates reflect bond market concerns that the Fed will sacrifice price stability to support an unstable Treasury market A year ago, we wrote: The elephant in the room is Government debt which is growing\u2026","rel":"","context":"In "Banks & Interest Rates"","block_context":{"text":"Banks & Interest Rates","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/economy\/the-fed-banks-interest-rates\/"},"img":{"alt_text":"CBO Projections of Debt Held by the Public as a Percentage of GDP","src":"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2025\/2025-05-16-cbo-debt-public.png?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2025\/2025-05-16-cbo-debt-public.png?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2025\/2025-05-16-cbo-debt-public.png?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2025\/2025-05-16-cbo-debt-public.png?resize=700%2C400&ssl=1 2x"},"classes":[]},{"id":61701,"url":"https:\/\/thepatientinvestor.com\/index.php\/2025\/05\/19\/private-credit-risk-jim-grant\/","url_meta":{"origin":6016,"position":3},"title":"Private credit risk | Jim Grant","author":"Colin Twiggs","date":"May 19, 2025","format":false,"excerpt":"Private credit markets have been growing steeply, but so are the warning signs. Source: Private Invest - Private Credit Growth ($Trillion) This comment on private credit from Jim Grant caught our attention: We\u2019ve got headline risk: While Moody\u2019s Ratings\u2019 (n\u00e9e Moody\u2019s Investors Service) splashy sovereign U.S. downgrade Friday afternoon dominated\u2026","rel":"","context":"In "Banks & Interest Rates"","block_context":{"text":"Banks & Interest Rates","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/economy\/the-fed-banks-interest-rates\/"},"img":{"alt_text":"Private Credit Growth","src":"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2025\/2025-05-20-pc.png?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2025\/2025-05-20-pc.png?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2025\/2025-05-20-pc.png?resize=525%2C300&ssl=1 1.5x"},"classes":[]},{"id":7960,"url":"https:\/\/thepatientinvestor.com\/index.php\/2013\/06\/30\/lurking-beneath-australias-aaa-economy-on-line-opinion\/","url_meta":{"origin":6016,"position":4},"title":"Lurking beneath Australia’s AAA economy… | On Line Opinion","author":"ColinTwiggs","date":"June 30, 2013","format":false,"excerpt":"Kellie Tranter highlights the unstable position of the big Australian banks: Australia has had a current account deficit since the 1980s. That means we are spending more than we are earning. We've had to sell public assets to balance the current account deficit. Put simply, the surplus on the capital\u2026","rel":"","context":"In "Australia & NZ"","block_context":{"text":"Australia & NZ","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/countries-regions\/australia-nz-countries-regions\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":13111,"url":"https:\/\/thepatientinvestor.com\/index.php\/2016\/04\/08\/apra-waves-wet-lettuce-at-bank-offshore-funding-macrobusiness\/","url_meta":{"origin":6016,"position":5},"title":"APRA waves wet lettuce at bank offshore funding | MacroBusiness","author":"ColinTwiggs","date":"April 8, 2016","format":false,"excerpt":"From Leith van Onselen at Macrobusiness: .....the banks\u2019 reliance on offshore funding hit an unprecedented 54% of GDP in the December quarter: As always, the key risk is that the banks\u2019 ability to continue borrowing from offshore rests with foreigners\u2019 willingness to continue extending them credit. This willingness will be\u2026","rel":"","context":"In "Australia & NZ"","block_context":{"text":"Australia & NZ","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/countries-regions\/australia-nz-countries-regions\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/thepatientinvestor.com\/wp-content\/uploads\/2016\/04\/screenhunter_12341-mar-29-15-40-660x402.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/thepatientinvestor.com\/wp-content\/uploads\/2016\/04\/screenhunter_12341-mar-29-15-40-660x402.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/thepatientinvestor.com\/wp-content\/uploads\/2016\/04\/screenhunter_12341-mar-29-15-40-660x402.jpg?resize=525%2C300&ssl=1 1.5x"},"classes":[]}],"_links":{"self":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts\/6016","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/comments?post=6016"}],"version-history":[{"count":0,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts\/6016\/revisions"}],"wp:attachment":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/media?parent=6016"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/categories?post=6016"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/tags?post=6016"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}