The New Masters of Capital : : American Bond Rating Agencies and the Politics of Creditworthiness / / Timothy J. Sinclair.
In The New Masters of Capital, Timothy J. Sinclair examines a key aspect of the global economy-the rating agencies. In the global economy, trust is formalized in the daily operations of such firms as Moody's and Standard & Poor's, which continuously monitor the financial health of bond...
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Place / Publishing House: | Ithaca, NY : : Cornell University Press, , [2014] ©2014 |
Year of Publication: | 2014 |
Language: | English |
Series: | Cornell Studies in Political Economy
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Physical Description: | 1 online resource (202 p.) :; 1 graph, 7 tables, 3 line drawings |
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Sinclair, Timothy J., author. aut http://id.loc.gov/vocabulary/relators/aut The New Masters of Capital : American Bond Rating Agencies and the Politics of Creditworthiness / Timothy J. Sinclair. Ithaca, NY : Cornell University Press, [2014] ©2014 1 online resource (202 p.) : 1 graph, 7 tables, 3 line drawings text txt rdacontent computer c rdamedia online resource cr rdacarrier text file PDF rda Cornell Studies in Political Economy Frontmatter -- CONTENTS -- TABLES AND FIGURES -- Preface -- 1. Introduction -- 2. Good, Bad, or Indifferent : The Emergence of Rating -- 3. Unconscious Power -- 4. Rating Corporations -- 5. Rating State and Local Governments -- 6. Global Growth of the Rating Business -- 7. Blown Calls: Rating Challenges and Crises -- 8. A New Constellation of Power -- Index restricted access http://purl.org/coar/access_right/c_16ec online access with authorization star In The New Masters of Capital, Timothy J. Sinclair examines a key aspect of the global economy-the rating agencies. In the global economy, trust is formalized in the daily operations of such firms as Moody's and Standard & Poor's, which continuously monitor the financial health of bond-issuers ranging from private corporations to local and national governments. Their judgments affect unimaginably large sums, approximately $30 trillion in outstanding debt issues, according to a recent Moody's estimate. The difference between an AA and a BB rating may cost millions of dollars in interest payments or determine if a corporation or government can even issue bonds.Without bond rating agencies, there would be no standard means to compare risks in the global economy, and international investment would be problematic. Most observers assume that the agencies are neutral and scientific, and that they interpret their role in narrowly economic terms. But these agencies, by their nature, wield extraordinary power and exert massive influence over public policy. Sinclair offers a highly accessible account of these institutions, their origins, and the rating processes they use to judge creditworthiness. Illustrated with a wide range of cases, this book offers a fresh assessment of the role of an often-overlooked institution in the dynamics of modern global capitalism. Issued also in print. Mode of access: Internet via World Wide Web. In English. Description based on online resource; title from PDF title page (publisher's Web site, viewed 29. Mrz 2022) Bonds Ratings and rankings United States. Credit ratings United States. Rating agencies (Finance) United States. General Economics. Political Science & Political History. POLITICAL SCIENCE / Political Economy. bisacsh Title is part of eBook package: De Gruyter Cornell University Press Complete eBook-Package 2014-2015 9783110606744 print 9780801474910 https://doi.org/10.7591/9780801471780 https://www.degruyter.com/isbn/9780801471780 Cover https://www.degruyter.com/document/cover/isbn/9780801471780/original |
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English |
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eBook |
author |
Sinclair, Timothy J., Sinclair, Timothy J., |
spellingShingle |
Sinclair, Timothy J., Sinclair, Timothy J., The New Masters of Capital : American Bond Rating Agencies and the Politics of Creditworthiness / Cornell Studies in Political Economy Frontmatter -- CONTENTS -- TABLES AND FIGURES -- Preface -- 1. Introduction -- 2. Good, Bad, or Indifferent : The Emergence of Rating -- 3. Unconscious Power -- 4. Rating Corporations -- 5. Rating State and Local Governments -- 6. Global Growth of the Rating Business -- 7. Blown Calls: Rating Challenges and Crises -- 8. A New Constellation of Power -- Index |
author_facet |
Sinclair, Timothy J., Sinclair, Timothy J., |
author_variant |
t j s tj tjs t j s tj tjs |
author_role |
VerfasserIn VerfasserIn |
author_sort |
Sinclair, Timothy J., |
title |
The New Masters of Capital : American Bond Rating Agencies and the Politics of Creditworthiness / |
title_sub |
American Bond Rating Agencies and the Politics of Creditworthiness / |
title_full |
The New Masters of Capital : American Bond Rating Agencies and the Politics of Creditworthiness / Timothy J. Sinclair. |
title_fullStr |
The New Masters of Capital : American Bond Rating Agencies and the Politics of Creditworthiness / Timothy J. Sinclair. |
title_full_unstemmed |
The New Masters of Capital : American Bond Rating Agencies and the Politics of Creditworthiness / Timothy J. Sinclair. |
title_auth |
The New Masters of Capital : American Bond Rating Agencies and the Politics of Creditworthiness / |
title_alt |
Frontmatter -- CONTENTS -- TABLES AND FIGURES -- Preface -- 1. Introduction -- 2. Good, Bad, or Indifferent : The Emergence of Rating -- 3. Unconscious Power -- 4. Rating Corporations -- 5. Rating State and Local Governments -- 6. Global Growth of the Rating Business -- 7. Blown Calls: Rating Challenges and Crises -- 8. A New Constellation of Power -- Index |
title_new |
The New Masters of Capital : |
title_sort |
the new masters of capital : american bond rating agencies and the politics of creditworthiness / |
series |
Cornell Studies in Political Economy |
series2 |
Cornell Studies in Political Economy |
publisher |
Cornell University Press, |
publishDate |
2014 |
physical |
1 online resource (202 p.) : 1 graph, 7 tables, 3 line drawings Issued also in print. |
contents |
Frontmatter -- CONTENTS -- TABLES AND FIGURES -- Preface -- 1. Introduction -- 2. Good, Bad, or Indifferent : The Emergence of Rating -- 3. Unconscious Power -- 4. Rating Corporations -- 5. Rating State and Local Governments -- 6. Global Growth of the Rating Business -- 7. Blown Calls: Rating Challenges and Crises -- 8. A New Constellation of Power -- Index |
isbn |
9780801471780 9783110606744 9780801474910 |
callnumber-first |
H - Social Science |
callnumber-subject |
HG - Finance |
callnumber-label |
HG3751 |
callnumber-sort |
HG 43751.7 S56 42005EB |
geographic_facet |
United States. |
url |
https://doi.org/10.7591/9780801471780 https://www.degruyter.com/isbn/9780801471780 https://www.degruyter.com/document/cover/isbn/9780801471780/original |
illustrated |
Not Illustrated |
dewey-hundreds |
300 - Social sciences |
dewey-tens |
330 - Economics |
dewey-ones |
332 - Financial economics |
dewey-full |
332.63/23/0973 |
dewey-sort |
3332.63 223 3973 |
dewey-raw |
332.63/23/0973 |
dewey-search |
332.63/23/0973 |
doi_str_mv |
10.7591/9780801471780 |
oclc_num |
1076409108 |
work_keys_str_mv |
AT sinclairtimothyj thenewmastersofcapitalamericanbondratingagenciesandthepoliticsofcreditworthiness AT sinclairtimothyj newmastersofcapitalamericanbondratingagenciesandthepoliticsofcreditworthiness |
status_str |
n |
ids_txt_mv |
(DE-B1597)506929 (OCoLC)1076409108 |
carrierType_str_mv |
cr |
hierarchy_parent_title |
Title is part of eBook package: De Gruyter Cornell University Press Complete eBook-Package 2014-2015 |
is_hierarchy_title |
The New Masters of Capital : American Bond Rating Agencies and the Politics of Creditworthiness / |
container_title |
Title is part of eBook package: De Gruyter Cornell University Press Complete eBook-Package 2014-2015 |
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1770176401267228672 |
fullrecord |
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