Senior Fellow Bill Harrington's Croatan View on IOSCO and how its members must not direct ESG analytics providers on how to govern themselves.
In the rush to help struggling companies and prop up debt markets during the COVID crisis, the Federal Reserve has undermined a major reform Congress made in response to the Great Recession: don't rely on credit ratings.
Croatan Institute will convene the Croatan Forum 2020 at The Rickhouse in Durham, NC on April 27-29, 2020.
The main US regulator for complex finance — the US Commodity Futures Trading Commission (CFTC) — intentionally got many basic features of a complex type of derivative contract exceptionally wrong in its recent No-Action Letter from late October of last year on margin requirements for swaps used by "special purpose vehicles."
At the nexus of complex finance, poor regulatory oversight, and predatory practices regarding lending and debt servicing, inflated credit ratings played a critical role in enabling the mortgage meltdown a decade ago.