2 weeks prior, Egan downgraded US debt to AA from AA- and now...
http://www.reuters.com/article/2012/04/19/eganjones-sec-idUSL2E8FJ9NG20120419
http://www.reuters.com/article/2012/04/19/eganjones-sec-idUSL2E8FJ9NG20120419
Egan Jones Downgades US Debt - SEC Files Charges
- Thread starter JamesL
- Start date
This is what you get for messing with the A's in the US of AAA.
Jones was on CNBC today. He said it was a paperwork issue, and yes he believes it is vindictive. The form was filed back in 2008 and the SEC suddenly had a problem with it.
Egan Jones was the first firm to downgrade Enron and GM. They also now have a high rating compared to other firms for GM, so they are not just doom and gloom analysts.
They receive no pay from the companies they analyse. All income is from instituitional investors.
Everything I ever hear about the SEC is about something that's already happened. Do they ever stop somebody during a fraud?
No.
But they'll come after a financial analyst with his own opinion. It's political posturing, and I would characterize it as such in the court room if I were him.
No.
But they'll come after a financial analyst with his own opinion. It's political posturing, and I would characterize it as such in the court room if I were him.