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Yeaaah... About that credit rating thing...
08-13-2011, 05:50 AM #1
Kreeper Griobhtha
Posts:11,165 Threads:770 Joined:Feb 2011
SEC investigating S&P's downgrade of U.S. debt: report


(Reuters) - The U.S. Securities and Exchange Commission (SEC) has asked rating agency Standard & Poor's (S&P) to disclose which employees knew of its decision to downgrade U.S. debt before it was announced last week, the Financial Times said, citing people familiar with the matter.

SEC's move is part of a preliminary examination into potential insider trading, the FT said.

The inquiry was made by the SEC's examination staff, which has oversight of credit rating firms, one person familiar with the matter told the newspaper.

However, the securities regulator is not aware of a leak from an S&P insider, nor was it aware of an aberrational trade, the paper said.

S&P and SEC could not immediately be reached for comment by Reuters.

The U.S. Senate Banking committee has begun looking into last week's decision by S&P's to downgrade the U.S. credit rating, a committee aide told Reuters on Monday.


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Who didn't see this coming? Like I said, it's a scam.


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What politics from both sides wants to teach us is that things are never complex. If you have your little package and something doesn't fit into that package, You don't know what to make of it so you want to dismiss it or then you will have to do the work of reconsidering your assumptions. - Michael Malice
08-13-2011, 12:28 PM #2
JayRodney ⓐⓛⓘⓔⓝ
Posts:30,276 Threads:1,493 Joined:Feb 2011
This reeks of insider trading. The big boys fucked us all again. Wonder how much members of congress and obamey made off of their inability to behave in a responsible manner.

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08-13-2011, 06:04 PM #3
Kreeper Griobhtha
Posts:11,165 Threads:770 Joined:Feb 2011
First the math they used to lower the credit rating was off by $2 trillion and now this? Those assholes should be hung in public for the shit they are pulling.

Far too much importance is place on the whole credit rating scam especially when you consider that the people deciding these ratings are making profits from their decisions.


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What politics from both sides wants to teach us is that things are never complex. If you have your little package and something doesn't fit into that package, You don't know what to make of it so you want to dismiss it or then you will have to do the work of reconsidering your assumptions. - Michael Malice
08-14-2011, 10:26 AM #4
JayRodney ⓐⓛⓘⓔⓝ
Posts:30,276 Threads:1,493 Joined:Feb 2011
(08-13-2011, 06:04 PM)Kreeper Wrote:  Those assholes should be hung in public for the shit they are pulling.

Or at least they should go away quietly and leave everyone fucking alone.


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08-14-2011, 05:54 PM #5
Kreeper Griobhtha
Posts:11,165 Threads:770 Joined:Feb 2011
(08-14-2011, 10:26 AM)JayRodney Wrote:  
(08-13-2011, 06:04 PM)Kreeper Wrote:  Those assholes should be hung in public for the shit they are pulling.

Or at least they should go away quietly and leave everyone fucking alone.

You been drinking public water again? You're getting rather docile.

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Ok, maybe hanging was a bit harsh. How about we brand their foreheads an take everything they have so they are homeless and have to roam the streets. And it will be legal for everyone that sees them to run up and spit on them and punch or kick them one time.

By the way, I am talking about TPTB and politicians.


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What politics from both sides wants to teach us is that things are never complex. If you have your little package and something doesn't fit into that package, You don't know what to make of it so you want to dismiss it or then you will have to do the work of reconsidering your assumptions. - Michael Malice



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