Back Charge

  

Back, back, back it up. That's what back charges are all about: charging you now for something that should have been billed in the past.

A back charge might happen if a borrower didn't pay their bill in full, or if there's an error that was corrected on what someone owes someone else.

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Finance: What is the Credit Rating Agenc...4 Views

00:00

Finance allah shmoop what is the credit rating agency reform

00:07

act of two thousand six otherwise known as crack are

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out out something like that All right yeah that's How

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the real pros said anyway this act was meant to

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improve the quality of company credit ratings like a blindfold

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and dartboard should not be involved in making up are

00:27

you know coming up with corporate credit ratings Well the

00:30

law was ironically enacted in the hope that we would

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avoid nightmares like the subprime mortgage crisis that almost brought

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down the finances of while the entire country in world

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And yes it worked in the same way that a

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scale works in an embarrassing episode of the biggest loser

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The idea was that the big three agencies moody's s

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and p and fitch were colluding with each other and

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raiding every security as a okay sort of the same

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way wall street cell site analysts were leaned upon in

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the nineties by bankers who paid them to rate every

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company of strong by so that the companies would favor

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the investment banks when doing lucrative secondary offerings and other

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personal wealth management services for the founders and senior executives

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Newly ridge from you know aipo booty The big three

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then produced a product that wasn't reflective of the real

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risks inherent in the marketplace Basically they had been labeling

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pink slime and hot dog meat as great a sirloin

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Yeah well the act made it much easier for smaller

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firms to compete for business by doing high quality research

01:39

and not being afraid to give bad ratings tow bad

01:42

money butchers will The credit rating agency reform act of

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o sixth gives both businesses and the government the tools

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they need to fight off the shady hucksters of the

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world And make sure the pink slime never you know 00:01:55.443 --> [endTime] such a cz your plate financially

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