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Sub Prime Meltdown Supplement: Moody’s President Steps Down

May 10th, 2008 · No Comments

Now that the post mortem on the Sub Prime mess has begun (perhaps prematurely), the finger pointing is increasing. The more we find out, the more it appears that a perfect storm of sorts is revealing itself.  In our recent article, LodgingInsiders pointed to the rating agencies as the enablers of what has come to pass.  While I’ve held this opinion for some time now, many friends and former colleagues on Wall Street and elsewhere disagreed.  However, it would seem I was not the only one with that opinion.  As reported in a recent New York Times article, The Moody’s Corporation announced this week that Brian Clarkson would retire as president and coo of Moody’s Investor Service.  Mr. Clarkson concluded that it was a good time to turn the leadership over to someone new.  More to come from LodgingInsiders shortly on the Sub Prime and its continuing impact on the lodging sector.

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Tags: Finance · General Industry

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