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 diligenceB.
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
另三个我倒是理解,,,但我记得何老师上课一直讲 评级机构和投资者没想到这个MBS ABS有这么大的风险 给senior层次一个非常高的评级。。导致崩了。。。这个D“投资者不知道他们自己买的这个东西其实是有这么大的风险的” 感觉挺对呀?
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