Saturday, October 6, 2012

Egan Jones sued by SEC

Nothing has changed.  The Security and Exchange Commission has declined to indict Moody's and Standard & Poor's, the ratings agencies employed by the banks to sanctify their garbage mortgage securities; however, they decided to sue the much smaller independent ratings agency, Egan Jones, which did not have a role in the crisis, but had the nerve to downgrade US debt.

http://www.bloomberg.com/news/2012-09-30/sec-sues-the-one-rating-firm-not-on-wall-street-s-take.html

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