Local view for "http://purl.org/linkedpolitics/eu/plenary/2011-06-08-Speech-3-312-000"

Predicate	Value (sorted: default)
rdf:type	lpv_eu:Speech2
dcterms:Date	"2011-06-08"^^xsd:date2
dcterms:Is Part Of	lp_eu:Explanations of vote2
dcterms:Language	"en"^^xsd:language2
lpv:document identification number	"en.20110608.20.3-312-000"2
lpv:hasSubsequent	lp_eu:2011-06-08-Speech-3-313-0002
lpv:speaker	lp:Derek Vaughan2
lpv:spoken text	"This report will introduce tougher oversight of credit rating agencies by the new European Supervisory Authority on Securities and Markets (ESMA) this summer, which will prove an important tool in ensuring that the previous attitude to lending will not be able to continue in the wake of the financial crisis. Credit rating agencies were earning fees, from financial institutions, for awarding ratings on their products, and from the resulting business of selling those products. This conflict meant agencies were keen to give high ratings to complex financial instruments, which led to investor complacency when buying these products. Agencies were also advising companies on ways to present their higher-risk products as low risk, and this misleading practice meant that these products turned out to be more toxic than their rating would suggest and led to huge losses for investors, including pension holders across Wales."@en1
lpv:spokenAs	member; S&D (2009-07-14--2014-06-30)3,3 substitute; CONT (2009-07-16--2012-01-18)3,3 member; BUDG (2009-12-14--2012-01-18)3,3 substitute; Special committee on the policy challenges and budgetary resources for a sustainable European Union after 2013 (2010-06-17--2011-06-30)3,3 substitute; Delegation for relations with Japan (2009-09-16--2014-06-30)3,3 member; Delegation for relations with the People's Republic of China (2009-09-16--2012-04-16)3,3 unknown; Labour Party (2009-07-14--2014-06-30)3,3 substitute; REGI (2010-09-20--2012-01-18)3,3
lpv:unclassifiedMetadata	"Derek Vaughan (S&D ),"1 "in writing."1 "laissez-faire"1

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The resource appears as object in 2 triples

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