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SEC Moves To Shutdown Agency That Cut US Credit Rating Twice

 
Coinman
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User ID: 10482273
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04/25/2012 07:09 PM
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SEC Moves To Shutdown Agency That Cut US Credit Rating Twice
While criminal banks and credit rating agencies that have perpetuated fraud and crashed the global economy are rewarded, honest players are sent to the slaughter house.

Just in case one is wondering what is a greater crime in America: vaporizing $1.5 billion in client money (JP Morgan and Morgan Stanley), stealing hundreds of billions in clients money (Jon Corzine via MF Global), defrauding nations and governments around the world (Goldman Sachs), stealing billions through a PONZI scheme conducted while whistleblowers were repeatedly ignored (Maddoff), getting paid off to rubber stamp trillions of dollars in toxic assets as AAA rated (Moody’s, S&P, Fitch) engaging in widespread mortgage fraud and illegally stealing hundreds of thousands of homes from Americans (Wall Street banks – Boa, Citi, JP Morgan Chase, Wells Fargo, etc) or having the temerity to downgrade the US credit rating (twice)?

Here is the SEC with the answer:

SEC SUES EGAN-JONES, SEAN EGAN ON ALLEGED MISREPRESENTATIONS (Full Statement Below)

Somewhere Jon Corzine and the rest of the crooks on Wall Street are laughing all the way to the bank especially given the recent revelations that the SEC actually destroyed thousands of documents of Wall Street’s greatest crimes.


[link to theintelhub.com]
2009lincolncent.com
Ms.Why

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04/25/2012 07:16 PM

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Re: SEC Moves To Shutdown Agency That Cut US Credit Rating Twice
Why does this not surprise me.
***
Burt Gummer

User ID: 7702124
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04/25/2012 07:24 PM

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Re: SEC Moves To Shutdown Agency That Cut US Credit Rating Twice
While criminal banks and credit rating agencies that have perpetuated fraud and crashed the global economy are rewarded, honest players are sent to the slaughter house.

Just in case one is wondering what is a greater crime in America: vaporizing $1.5 billion in client money (JP Morgan and Morgan Stanley), stealing hundreds of billions in clients money (Jon Corzine via MF Global), defrauding nations and governments around the world (Goldman Sachs), stealing billions through a PONZI scheme conducted while whistleblowers were repeatedly ignored (Maddoff), getting paid off to rubber stamp trillions of dollars in toxic assets as AAA rated (Moody’s, S&P, Fitch) engaging in widespread mortgage fraud and illegally stealing hundreds of thousands of homes from Americans (Wall Street banks – Boa, Citi, JP Morgan Chase, Wells Fargo, etc) or having the temerity to downgrade the US credit rating (twice)?

Here is the SEC with the answer:

SEC SUES EGAN-JONES, SEAN EGAN ON ALLEGED MISREPRESENTATIONS (Full Statement Below)

Somewhere Jon Corzine and the rest of the crooks on Wall Street are laughing all the way to the bank especially given the recent revelations that the SEC actually destroyed thousands of documents of Wall Street’s greatest crimes.


[link to theintelhub.com]
 Quoting: Coinman


"The SEC alleged that Egan-Jones “falsely stated” that it had 150 outstanding ratings on asset-backed issuers, which it had been rating since 1995, and 50 outstanding government-issuer ratings. In fact, the SEC alleges, Egan-Jones hadn’t issued ratings on any asset-backed or government-backed securities."
[link to theintelhub.com]

This will be easy to prove or disprove.
If it IS true...then they shouldn't have been granted NRSRO status.
(Nationally Recognized Statistical Rating Organization)

Last Edited by Useless Cookie Eater on 04/25/2012 07:24 PM

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