Am I missing something, not a whole lot of talk about MCO. You have an ex Senior VP talking about outright fraud.... This isn't some clerk. He is claiming senior management lied under oath..... Any reason, please someone, why this isn't a short? 27.04 close, posted for posterity.
What do you expect MCO will lose in earnings? How large might the fine be? Figure that out before you short. Perhaps they just file criminal charges against homeboy, and not the company? Old news is already priced in
I was thinking more than an earnings hit, I was thinking shuttered doors. Their ratings were lies, which people based investments off. If no charges, lol, fine but everyone involved with loses will sue them for the all their loses based on the ratings. And they can not in good faith say they were rated to the best of their knowledge. They had secret internal ratings, different than posted.
I doubt anything will happen to them. Rating agencies are part of the rigged game. They lied for a reason. The reason is for others to profit. Those who rig the game are untouchable. If you go against them you lose money. You have to play by their rules, follow their money. They bought gold a long, long time ago.
Well I asked for a reason not to short. And that would be a one. I just disagree their untouchable. I dunno who bought gold, good for them... it wasn't Moody's. If Bear, Lehman, Arthur Anderson can go, Moody's can go. Big money you say... What do they care about Moody's, if anything a nice scapegoat. This is the game we will be playing for a year or so. Pin the tail on the donkey.