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Is this sarcasm? The new rating is probably right. Maybe the timing looks suspicious, but the new rating would have come sooner or later. There's a collusion
by gasull 13y ago
Is this sarcasm?
The new rating is probably right. Maybe the timing looks suspicious, but the new rating would have come sooner or later.
There's a collusion of US Government and big corporations, but rating agencies have been pissing off Washington, so I don't think in this case there is collusion.
- adventured 13y agoThe S&P pissed off Washington with a downgrade (shortly after which they got charged with fraud and sued for $5 billion by the Feds), but I'm not aware that Moody's has done anything to really piss off Washington.
- thenewkid 13y agoDon't forget Egan-Jones! "The trouble for the firm started on July 16, 2011, when Egan-Jones downgraded the U.S.’s sovereign debt by one notch, to AA+ from AAA... Two days later, the SEC’s Office of Compliance Inspections and Examinations contacted the firm seeking information about its rating decision... on Oct. 12, Egan-Jones received a call from the SEC notifying the firm of a Wells Notice, an indication that it was being investigated. On April 5 of this year, Egan-Jones again downgraded the U.S. sovereign debt, to AA from AA+. On April 19, leaks started emanating from the SEC that it had voted to start an “administrative law proceeding” against the firm. And on April 24, the SEC filed its complaint." http://www.bloomberg.com/news/2012-09-30/sec-sues-the-one-rating-firm-not-on-wall-street-s-take.html http://www.bloomberg.com/news/2012-09-30/sec-sues-the-one-ra...