"The Bond Rating Crisis and the Debt Ceiling Fiasco," with John Berenyi
My guest, John Berenyi, international expert on bonds, will discuss the recent crisis regarding the debt ceiling and the recent downgrading of America’s credit rating.
John Berenyi served as senior bond credit analyst at CITIBANK. During the time of the NY City financial crises he warned the management of the bank and others of the enormous credit difficulties the city was facing. In this position, he worked very closely with the Association of Primary Dealers of US Government Securities. In the SEC report investigating the NYC financial crises, his analytical work is quoted and also referenced as footnote Number 1 of the report.
With over 25 years experience in the capital markets as an investment banker with such firms as Rothschild and HSBC Capital Markets, he worked extensively with Moody's and S & P in obtaining bond ratings for debt issues in the US and around the world. He secured the first multi lender bond rating-AA-from S&P that set the stage for mortgage bond ratings for the next 2 decades. He co-invented the concept of "invested sinking funds" that are hybrid instruments interconnecting US Treasury, Federal Agency and municipal securities. In his capacity as the financial adviser to the US Virgin Islands for seven years, he worked extensively with the Federal Financing Bank located in the US Treasury.
For over twenty years he was the US adviser of the International Center for Local Credit located in The Hague, Netherlands, the trade association of European and Japanese infrastructure credit banks.
He has taught graduate courses at the Johnson School of Business at Cornell University and Baruch College of CUNY on financial management and bond market practices. Mr. John Berenyi, has undergraduate and graduate degrees in, engineering, management sciences and applied economics from Columbia University.
Download | Duration: 00:44:11
Comments