Egan Jones Downgades US Debt - SEC Files Charges

2 weeks prior, Egan downgraded US debt to AA from AA- and now...

http://www.reuters.com/article/2012/04/19/eganjones-sec-idUSL2E8FJ9NG20120419

 

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.

 

Yeah, saw that. Without pushing the issue, he did imply that it was because of these downgrades that he was being targeted.

Don't want anyone talking smack about US or Gov't Motors debt, now do we?

 

Wow, the SEC took action on some paperwork from 2008! Go SEC!

 

With only 5 analyts egan-jones makes a much better work than the other 3 big firms, each with over 1000 "analysts" !

 

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.