The SEC examined all 10 firms registered Nationally
Recognized Statistical Rating Organization (.pdf 23 pages) and found all 10
had "apparent failures". The SEC has requested remediation plans from each of
the agencies within 30 days and is continuing its investigation.
The issues found...
Jesse Eisinger posted a very good piece on the SEC and
ratings agencies today ( SEC
keeps the Ratings Game Rigged ). He writes about the Egan-Jones case,
"This is your S.E.C., folks. It courageously assails tiny firms, and at
the pace of a three-toed sloth. And when it goes after its prey, it's...