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410140980 · 2023年07月20日

第五条能解释一下吗

NO.PZ2020033003000090

问题如下:

According to the findings of the congressionally formed Financial Crisis Inquiry Commission, which of the following not a the root causes of the misalignment between investors and rating agencies prior to the credit crisis of 2007-2009?

选项:

A.Rating agencies are lack of resources to conduct the proper due diligence

B.

Pressure from the originators

C.

Lack of meaningful public oversight over rating agencies

D.

Investors have little understanding of the products they were purchasing.

解释:

D is correct.

考点:misalignment between investors and rating agencies

解析:

According to the findings of the congressionally formed Financial Crisis Inquiry Commission, the root causes of the misalignment were

1). the flawed computer models at the rating agencies

2). the profit motive of the rating agencies

3). pressure from the originators (选项B)

4). the drive for market share coming from the rating agencies

5). the rating agencies lack of provided (not available) resources to conduct the proper due diligence (选项A)

6). the absence of meaningful public oversight (选项C)

7). originators manufactured the securitized products to specifically arrive at a rating given their acquired knowledge of the rating agencies’ decision flow charts

老师关于评级机构导致金融危机的根本原因第五条,没有资源做合适的评估能具体举个例子吗

1 个答案

李坏_品职助教 · 2023年07月20日

嗨,爱思考的PZer你好:


次贷危机期间,标普和穆迪这两大评级机构频繁的给发债公司发行的MBS债券评级,但是评级机构作为第三方是无法接触到所有的商业信息的,比如MBS真正的底层资产质量和背后的住房贷款人信息,这些数据无从获取,发债公司也不一定都提供出来。

所以评级机构由于数据欠缺,无法进行尽职调查。

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就算太阳没有迎着我们而来,我们正在朝着它而去,加油!

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