Articles by Stephen Foley in New York
We found 3 results.
European Leaders Rail against ‘Oligopoly’ of Rating Agencies
Stephen Foley in New York – The Independent,
11 Jul 2011
Like a conscientious pupil waiting for grades from the teacher, every government wants straight As from the credit rating agencies. A rating is simply a measure of how likely it is that an investor who lends money to a government (by buying its bonds) will get their money back and the interest they were promised. At the top end of the scale, AAA, or triple-A, means there is practically no chance of a default. Standard & Poor’s, Moody’s, Fitch and a handful of smaller rivals all calculate probabilities to place bonds on a sliding scale that heads down through A- and BBB+ to B-. Below a certain cut off point in the Bs, bonds become “junk” – off limits to all but the most speculative investors.
→ read full articleHas The Internet Just Sold Its Soul?
Stephen Foley in New York – The Independent,
9 Aug 2010
Google stood accused last night [5 Aug 2010] of betraying the founding principles of the internet, as it readied a deal that will abandon key parts of its support for “net neutrality”, which has guaranteed equal access to the worldwide web since its inception.
→ read full articleGOLDMAN SACHS: THE GREEK CONNECTION
Stephen Foley in New York – The Independent,
15 Feb 2010
Investment giant’s role in eurozone debt crisis falls under spotlight.Goldman Sachs, the giant investment bank, is today at the centre of the row over the Greek government’s finances, amid recriminations over complex financial deals that allowed the eurozone nation to skirt its debt limits. With European finance ministers meeting in Brussels today and tomorrow to […]
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