Registered: Jun 2011
04-19-12 11:21 PM
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.
Quote from JamesL:
2 weeks prior, Egan downgraded US debt to AA from AA- and now...
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.