In the wake of the financial meltdown trigged by the subprime mortgage crisis in the fall of 2008, credit ratings agencies like Moody’s and Standard and Poor’s became the focus for some of the blame. Did they ignore key risk indicators that would have alerted investors much earlier to the house of cards that would come crashing down? In this Compliance Advisor podcast, Jesper Andersen, co-founder with Toby Segaran of Freerisk.org, discusses their open financial services project, which will offer data, algorithms and tools to perform financial risk modeling.
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Find out the origins of Freerisk and its philosophy, its position on XBRL and how it plans to work with Moody’s and S&P to create a more transparent ratings process.