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The Porn Addicts Formerly Known As The SEC Take Their Vendetta With Egan-Jones To The Next Level
This is so pathetic, it is beyond words:
- US SEC EXPECETED TO VOTE ON POSSIBLE CHARGES AGAINST RATING FIRM EGAN JONES ON THURSDAY - RTRS
- POSSIBLE CHARGES STEM FROM ALLEGED WILFUL MISTATEMENTS ON EGAN JONES' REGULATORY APPLICATION WITH SEC - RTRS
If nothing else, it explains the recent WSJ hit piece against Egan, just so it can make the public record in the SEC documentation. In other news, this will surely teach any other rating agency to downgrade the US not once (ahead of everyone else, well the S&P), but twice (and JP Morgan too).
In the meantime, the SEC still has NO IDEA what the definition of liquidity is, and continues to refuse to take ANY action against High Frequency Trading, to press criminal charges against ANY banker, or for that matter, to do anything that may jeopardize its staffers future careers as 7th assistant general council at assorted bailed out Wall Street firms.
Now we wait to hear news that Fitch and Moody's will receive a cash bonus from the SEC for not downgrading the US properly filing their
regulatory applications.
And now back to midget porn.
One senior attorney at SEC headquarters in Washington spent up to eight hours a day accessing Internet porn, according to the report, which has yet to be released. When he filled all the space on his government computer with pornographic images, he downloaded more to CDs and DVDs that accumulated in boxes in his offices.
An SEC accountant attempted to access porn websites 1,800 times in a two-week period and had 600 pornographic images on her computer hard drive.
Another SEC accountant used his SEC-issued computer to upload his own sexually explicit videos onto porn websites he joined.
And another SEC accountant attempted to access porn sites 16,000 times in a single month.
In one case, the report noted, an employee tried hundreds of times to access pornographic sites and was denied access. When he used a flash drive, he successfully bypassed the filter to visit a "significant number" of porn sites.
The employee also said he deliberately disabled a filter in Google to access inappropriate sites. After management informed him that he would lose his job, the employee resigned.
A similar SEC report for October 2008 to March 2009 said that a regional supervisor in Los Angeles accessed and attempted to access pornographic and sexually explicit Web sites up to twice a day from his SEC computer during work hours.
Porn Problem Began as Economy Collapsed
The report concluded that most of the cases began in 2008, just as the financial system began to collapse, and the problem hasn't stopped.
The most recent case cited in the report occurred four weeks ago.
"Trust me, these guys are addicts," said Mike Leahy, author of the book "Porn Nation."
"This isn't going to end until you know someone really puts a stop to it."
There is much more here...
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Wow, absolute American corruption
Yep! Punish the truthtellers and reward incompetence (at best) and falsifying propaganda promulgators. Disgusting!
When you pay $150,000 a year with benefits to Ivy League kids and have them move papers from one side of the office to the other what the fuck do you expect?
FASCISM
Fuck you, SEC, you monkey-fucking motherfuckers, every single one of you. Fuck you to hell.
From last year's WSJ...
Argentina Fines More Economists Over Inflation Estimates
...Government officials deny the fines amount to censorship, saying they want Argentines to have access to "good data."
The Economy Ministry spokesman couldn't be reached for comment.
The fines have silenced some economists and led others to refrain from talking openly to the media. Citing government pressure, consulting firm Economia y Regiones said last month it will no longer make public its inflation estimates...
http://online.wsj.com/article/SB10001424052748703518704576259281697697752.html
And from tomorrow's WSJ...
America Charges More Economists Over Sovereign Ratings
...Government officials deny the charges amount to censorship, saying they want Americans to have access to "good data."
The Economy Ministry spokesman couldn't be reached for comment.
The charges have silenced some economists and led others to refrain from talking openly to the media. Citing government pressure, ratings firm Egan-Jones said it will no longer make public its sovereign debt ratings...
I'm still trying to digest the headline...the SEC votes on whether to charge? They either have evidence of a crime or they don't...the March of the Insane Keynesians continues.
And if this and other stories don't tell you anything, this should. There is no way out for the US, we are going to have a economic implosion the likes of which will make the Great Depression look like a friday afternoon correction.
This sounds an awful lot like the function and perks the Supreme Soviet enjoyed in the USSR...
...Immediately prior to the collapse...
sexual glasnost BiCheZ
If you can't see this country heading toward a Brave New World, then you aren't paying attention.
And hey, don't fuck with Sean Egan. You mess with him or Kyle Bass and it's like trying to intimidate Ron Paul. Some of us are NOT going to put up with this shit.
Anyone at Treasury or the Fed ever think that maybe they ought to do something to ensure that Egan-Jones isn't right???
The Spanish Inquisition?
Nobody suspected this would happen.
http://www.youtube.com/watch?v=j7OHG7tHrNM
It's much more than that, most of them are just waiting it out for them to get hired by a major firm so that they can show them how to keep away from audits and flags popping up if any. Do you truly believe that these Ivy league kids go into the federal service when they see their friends who luck out and get the 1.5 million dollar job and more. They couldn't get the dream job at the beginning and so is waiting it out and hopeing to be noticed by a big firm. And some are doing the 20 years and out and then go into the private sector to the same companies they investigated.
.
The desperation is now truly palpable and odiferous..............
Doesn't the next step after that typically involve resorting to violence ???
Watch your back, Egan !!!
before the violence is the collapse
This is violence.
People forget that when Bernanke was giving assessments of the economy, housing and future developments he was also acting as a ratings agency. Now that his prognostications about housing and the economy have been proven badly wrong, will he also be prosecuted?
Only by Jon Stewart, it seems.
http://www.lewrockwell.com/blog/lewrw/archives/110029.html
American or not, this is what happens when you do your work honestly.
Yep. Dishonesty and fucking over other people is the new way to get ahead.
Unfortunately it isn't new. Been going on since we crawled outta the sea
Exhibit A, Jesus Christ
As they say, "No good deed goes unpunished."
As they say, "No good deed goes unpunished."
Once again, with feeling!
Exactly!
The further we get from Him, the lower we slide on the "ethics" scale.
Exactly!
The further we get from Him, the lower we slide on the "ethics" scale.
Works for Corzinne...
Tallest blade of grass gets the mower!
There's another level of understanding Ive learned. Theres knowing whats going on and how to get through it, and knowing whats going on and knowing how to get through it with the knowledge that the rules of today will not apply when the time comes to do so.
Looks like Egan Jones gonna be gangbanged.
up the ass.
I am always hoping that henry kissassgers comment "useless eaters" applied to suckasses like at the SEC, among another 10 dozen clusterfuck organizations. But, I highly doubt it.
Hey, they are not useless eaters, they have an important contribution to make: keeping the biggest crooks safe from any real oversight. A mobster things of a corrupt cop as a valuable asset. These wankers earn their porn-time: they sold their integrity for it!
Henry kissinger is the biggest useless eater.Sice you quote him,you become one.
I am now deemed a useless shitter.
“Our government teaches people by example. If the government becomes the lawbreaker, it breeds contempt for law; it invites every man to become a law unto himself; it invites anarchy."
-Louis Brandeis
You rock, E-J!
The truth is what we tell you it is, slave.
"in a time of universal deceit, telling the truth is a revolutionary act"
Orwell
Daily whippings will continue until morale improves.
We adopted a variation of that as our unofficial company motto!
Top of departmental meeting two months ago:
"Tip of the week: Be glad you have a job. Imagine yourself without one."
Very reassuring....
Fuck da SEC.
And that's just one step further into the septic system for US and market culture.
...except septic systems take effluent and break it down, not leverage and multiply it.
So...Moody's & S&P are including site links in their filings, and Egan Jones doesn't?
When/where does the corruption end?
Is everyone bought and paid for, or is this some alien experiement/plan to take over the entire human race? Sure seems like the latter.
Who was it who took me to task a couple days ago about "Ending the SEC"? Perhaps, today's headline will give pause to his criticism that the SEC needs the firehose treatment.
Regulatory capture.
Burn it to the ground. CFTC as well.
The Empire (of Lies) Strikes Back.
Someone really needs to give the SEC a hand (cough)
So...the "recognized" rating agencies that said junk was gold are left unfettered; as the "unrecognized" ratings agency that attempts realistic ratings is pursued by those who don't pursue criminal neglect and fraud right in their own backyard.
"A very merry un-birthday!"
"To Me?"
"Too You!"
Sang the Mad Hatter and the March Hare to a bewildered Alice.
This isn't the first time a state government went after a ratings agency after an "unfavorable result":
http://www.reuters.com/article/2012/01/24/us-italy-fitch-idUSTRE80N1II20120124
Let me get this straight: the ratings agencies did the bidding of the big banks and investment houses (Countrywide, Goldman) before the 2008 crash, and were skewered for it (rightfully so) by journalists and films such as Charles Ferguson's "Inside Job".
The ratings agencies then get serious about doing this correctly, especially the smaller ones, since there is now demand for it.
And after being transparent with their rulings, what happens when they lay the lumber? Government agencies start to go after them after they downgrade these states' debt (correctly) due to sliding GDP, lack of tax income, and other analysis.
On top of that, Moodys and S&P goes unscathed (when they have ex-Goldman and JPM people working for them) and Fitch and Egan get the shaft.
Yeah, government agencies "work" for "the people". That's it.
It is called getting rid of the competition! Watch the GODFATHER for good tips on how coordinated eliminations are done! Just saying!
farcism at its finest!!
Most people dont realize this, but SEC-TRES is charge of both the IRS and the SS. Whether you are talking about "tanks in the streets" Paulson, or "It was an mistake,I'll make up for it" Geithner. You are seeing the last gasp of the Roman empire. It is simply the wrong way to go about things.
So predictable. Sadly the corruption will only end with a violent overthrow of TPTB. There is no other option, the ballot box doesn't work, protest doesn't work. The weenies only will respond to violence and their demise
booba will stop at nothing to become the next dictator-in-chief. americans arent stupid, just incredibly lazy and short sighted. wtf should I care! nothing I can do. Im but one vote and the DoJ and eric holder has made it worthless. whatever, I gave up caring.
Well your learning is at least starting. A vote is worthless for it's portrayed goal.
It always has been since it became important to vote, and it is independent of what "party" is currently jacking off in power.
It was over as soon as the government gained enough power so that who ran the place mattered.
Look at it like this:
Voting only matters when the gun behind the votes can be pointed at you. Who runs our government should NOT matter if we are a free people.
pods
Vote with lead, it really gets their attention!
If voting changed anything, it'd be illegal.
Obama's a figurehead. A red herring. You should be observing the man behind the curtain.
Do you seriously think it would have mattered one bit had John "bomb bomb bomb Iran" McCain been elected?
Both are owned lock, stock, and barrel by the banking syndicate, which also controls the Federal Reserve.
Find out which candidate has as their biggest donor, Goldman Sachs. Don't stop looking when you find the first one.
Sheila wasn't hired to go after corruption by White House supporters...
RUMOUR HAS IT: MANAGEMENT SHAKE UP AT A TOP TIER US BANK...TO HIT THE SHARE PRICE HARD
Any chance Barry has a bunch of volunteers over there trying to drudge up some pictures of Mitt-boy and the Mrs.? I mean, how do they explain 16,000 sites in a month and no effort to impose any real filters?
What a bunch of fuckers. So Corzine can steal a billion six and he walks free,but an agency dares tell the truth and they get penalized. We are trully living in an upside down fascist state.
(SARC ON)
So what you gonna do?
Nothing!
Because if you take it to small claims court or any other court, it will just drain 8 hours out of your life and GS/JPM probably won't show up and even if you did get the judgment they would just stiff you anyway; so what you're going to do is piss and moan like an impotent jerk, and then bend over and take it up the tailpipe!
(SARC OFF)
nice . and Mr Corzine is yet to be even accused..
its beyond pathetic..
alx
Did anyone rub one out while at their desk?
To be fair to them, the SEC is just somewhere to go to kill 8 hours a day. Might as well stock up on porn then!
Must be their filing statement said they would do as they were told?
I say burn the whole thing down. It's the only way to be sure.
pods
Most of you must have noticed that a lot of people really don't see the difference between perception and reality. The most sheep like ones of them even think there is no reality only this stupid game you win by being policially correct and conformist.
I think our society has become so corrupt and blind to reality that these animals are now in charge. I hope it ends soon.
The court case should be amazing.
Hmmmmm....... SEC performs the ultimate blow job
Does watching porn lead to manipulation?
No, but it does lead to masturbation.
aka self-manipulation
Or High Frequency Ejaculation.
"Just weeks after Standard & Poor’s downgraded the credit of the U.S. the ratings agency announced that its president of four years is stepping down.
The McGraw Hill Companies announced that Deven Sharma, 55, will step down next month and will be replaced by Citigroup COO Douglas Peterson."
"In a time of universal deceit - telling the truth is a revolutionary act."
George OrwellSpeaking the truth is somewhat suicidal in the land of the free, as Deven Sharma and Egan-Jones are finding out. Our corruption is complete.
Today is a truly scary day with all spin we're being fed. Tyler, you pointed that out first thing this morning: I'm worried about you...hope you've got some bodyguards....I think there are a couple of Secret Service guys looking for a job (sorry, bad joke ... but seriously, protect yourself).
I think the powers that be could care less about information being sent out about the ruse being played on us all. God knows I have forwarded hundreds of articles from this site. I typically get a response of, "Economies are so complicated" or "That is just conspiracy" or different variations of the sort.
I gave up proselytizing truth around me. People don’t understand fundamental economics, don’t care, or are too busy trying to climb the ladder in the delusion that if they just work hard enough they will be in the 1%. Fuck ‘em. No man is an island, but I will just focus on me and my family at this point. I would say I would stay off the radar too, but I’ve dripped more blips on the radar than an SEC “regulator” covering his computer screen after a good midget-transvestite, beastiality, poop fetish clip.
Hey, I used to get into midget porn.
Think they would hire me?
MARY SHAPIRO = FOX
SEC = Henhouse
What, we're shocked? She's Gensler with tits.
Porn made them humble.
You know my dad fought in WWII and he's hopping mad at 86 about these banksters. To him they seemed to have popped into existance out of nowhere like a virus plague upon the world. Of course he says the same and worse about other drivers. But he says the banksters are going to steal the pension funds by way of these SEC and ratings agencies.
Just remind him that he fought for our freedom.
He fought for banker profits. Who says we won?
I'm curious as to what the DOJ has to say. They will surely add some credibility to this case!
Like "fast and Furious" only with a knuckle shuffle tussle on the old wanky. One could be lead to believe the DOJ has been supplying the porn links of various goatse, gay sperm guzzling porn sites to the SEC so that the DOJ can encourage another avenue for Congress to pass legislation to shut down the internet. Create the problem, provide the solution. Jizz mop the computers with a part water, part bleach solution.
Captured regulatory in more ways than one. Egan Jones needs to sue these guys in Federal court. Oh I forgot that won't work either.
Guess it's time to move overseas ...
His name was Egan-Jones.
there is no doubt that gensler and schapiro are crooks, but it is also true that gensler was physically threatened by a bankster not to meddle with the pm markets - probably the same one who shit on his dinner tray aboard a flight to south america several years ago....i also believe he was flying first class...
anyone waiting for gensler to do anything is a fucktard. same for schapiro - chronic cunt of the regulatory world....
Not that there is anything to add.....BUT THIS IS ABSOLUTELY PHUQUING UNBELIEVEABLE.
Just when it was becoming hard to believe our government could hit new lows in moral corruption, the SEC sets a new all time personal best high bar that will be difficult for any other agency to jump over,though I am absolutely sure the BATF or Homeland Sekurity will find some way to top this.
When we have a president who is obviously bought and paid for by several special interest groups (such as Monsanto recently proved) I guess it makes complete sense that the rest of the apparatus is equally immoral.
We have here a government of the people, by the psycopaths.
not that long ago it seemed the PTB's would give us some astonishingly absurd, retarded and often times downright psychotic actions to chew on via the headlines once or twice a week.
then, it seemed like once a day you would come across something that caused you to wonder if they are all indeed really grey skinned reptilian aliens.
cause normal humans just don't think or act like these psychos.
now it's just idiocy 24/7, these people (and i use the term loosely) have wandered way off the edge of the map...
I'm thinking the SEC's broadband connection was down for a while and someone was angry they hadn't cracked one off for a good 5 mins.
It's understandable.
There aint nothing wrong with p0rn
It means some of the robots at The SEC may actually have a pulse
All addictions are toxic.
If 80,000 pages of tax code cant run (sic) the economy, might as well try to get a three way in columbia where only one guy pays. And its not the concubine who is squeeling, its one of the two SS "yankee white" agents.
News coverage from our Chinese masters.
http://www.youtube.com/watch?v=p9yRnRa3NW4
We are so screwed. Come on SHTF!
the word is cornholed
In California, Jerry Brown, pushed and singed a law to dissolve all 400+ Redevelopment Agencies (so he and his school union buddies could grab the money). The language in the law introduced changes in the handling and management of the revenue streams pledged to the $14bln or so outstanding redevelopment bonds. On this basis (and some others) Moodys head redevelopment analyst downgraded all agencies in the state one notch -- she had previously put them on credit watch as this was pending. The first analysis was rather strong, the next few were more and more diluted. And now, surprise, she no longer works for Moody's.
BTW Jerry Brown's sister is the Squid's head of public finance for the western US. Such connections are always worth noting.
There are some good people at the rating agencies--it varies by department. The negligence or corruption of the structured products group brought us AAA asset backed credit wrapped subprime crap and the 2008 meltdown. I get the feeling the sovereign group has had the whip cracked on them. Mostly the muni group is good but it varies by state and the more powerful the issuer, the less likely anyone's telling it straight, imho. Anyway, in the CA muni world there's one less honest voice now.
Its about time the SEC got involved. How long could our markets function if people are out there spreading truth about fraud companies. Until the case is tried in kangaroo court we should throw the whole lot of them in gitmo, now that we can arrest US citizens indefinitely for no reason, just to play it safe. This is a smart move and will show investors that they can feel safe investing billions of dollars in Angry Birds and sites based off LOLCats
The US is becoming an utter embaracement. Free country? What free country. Most controlled citizens in the world.
Becoming an embarrassment? This is beyond embarrassing. We are living in a fucking toilet bowl.
Known to everyone but us, so to speak.
This is what we get when we allow a system with just a "little bit of corruption". It grows into an ungodly beast that will consume us all if it isn't torched first.
And the sadest part is that there is really not much we can do. It's out of our hands. They control the media, control the internet, you can't roit, you can't demonstrate, anyone you vote for is all controlled by the same powers behind them. It's just a wait till it all implodes type of game only then can we start fresh hopefully.
you are not the powerless can-do-nothing 'victim' you make yourself out to be
we have the power, as individuals, to end this rotten system anytime we take a stand and stop paying our taxes
Zero Tax = Zero Govt (and all the parasites that hang off that rotten fruit)
Yep, the corruption is "in your face" now. Still think the elections are legitimate?
The elections are rigged, everything is rigged. It really doesn't matter anymore to them if it's clearly in front of you or not. Were screwed!
It's really is!! Alice in FuckingWonderland!
Slap me! ...will ya?
Sorry, I don't have time to slap you...too busy trying to survive the corruption! Maybe when time are better...raincheck?
"..the recent WSJ hit piece against Egan,,"
the WSJ had a survey only last week asking readers what they thought of Regulators performance... at the end the WSJ stated Regulators had "prosecuted hundreds of Directors and Companies..."
Yep, all trivia, all small fry, all competition to the Big NY Cartel
"..the SEC still has NO IDEA what the definition of liquidity is.."
The more damning inditement is they obviously have no idea what the warehouses full of regulations are or how to prosecute them against major systemic risk and rampant fraud NY banks
Regulators have put themselves out of a job, drowned in waisted regulations of their own making that they then refused to use against their major fee-paying benefactors (the NY cartel banks). Anyone see a glaring conflict of interest?
.. so much for looking out for consumers or the markets best interests
They go after Martha Stewart but don't proscecute dis-honorable Jon Corrzine. They might as well dis-band the SEC. Taxpayers would save a load of money.
The SEC is busy watching porn.
The Secret Service is busy visiting hookers.
Seems good areas to cut.
An SEC accountant attempted to access porn websites 1,800 times in a two-week period and had 600 pornographic images on her computer hard drive.
Amateur.
Sounds like a girl I would want to meet actualy. Anyone have a picture of the gal?
Forget it. She was prolly trawling for hot lesbo action, using search terms such as 'Elena Kagan nude.'
'Scuse me while I blow lunch ...
lusting over our girl Blythe Masters.....
From the SEC to Thailand, porn all around
http://www.thaivisa.com/forum/topic/548888-thai-parliament-flashed-by-po...
What? You thought the job of the SEC was to go after people like Corzine and Madoff? How simple of you!
The SEC's real job is to crack down on rating agencies that tell the truth. These financial terrorists (since everyone the the government doesn't like is a terrorist these days) must be stopped. Truth = thought crime.
"And another SEC accountant attempted to access porn sites 16,000 times in a single month."
that's 1.5 times per minute, every minute (given 22 working days a month)
i mean how much time can you really spend jerking off (literally) at work?
why not just read a good book if there's nothing else to do?
But these figures have to be exaggerated (not that there's anything WRONG with accessing porn at work)
I have a neighbor that works for some city nearby in their roads department. He is very proud of his bunk area that he created complete with cot, pillows, night stand, and entertainment center. He showed me a picture of it and I ask, "Is that for night shift or something?" He replied, "Hell no! I work day shift. Sleeping is much easier than trying to look busy."
After seeing the frequency of access at the SEC (i.e. "non-stop"), I have to wonder just how much of it is driven by cognitive dissonance (ignoring those worthless people who made it on nepotism/good ole boy club who've never really ever worked, of course).
Picture yourself in the situation as a "loyal American" who wants to make the world a better place (the fantasy of the "public servant"). You've worked long and hard to reach what many might consider to be a pinnacle career position. Yet the once you set foot in the place, you notice that nothing is what you thought it was. Instead, you find yourself in the midst of an agency that's been "captured." All around you people are either pretending to work, or not even bothering at all. If you attempt to work on anything meaningful, you find nothing but roadblocks coming down the chain-of-command, Meanwhile, your coworkers despise you for making them look bad (something they'd prefer not to think about), and your boss is always stuck in the middle and hates you too.
Add to all of that, you're in DC, scumbag capital of the world. Now, while the "right thing" to do would be to quit and blow the whistle, it would result in career suicide.
In light of all of this, the SEC porn addiction makes perfect sense, as the addiction is the only outlet left for you to feel normal. Or feel, at all, as everything else has to be walled off to protect the inner self that refuses it is really this corrupt.
Now, multiply this by the myriad of government agencies and suddenly it becomes obvious just why the world is so fucked up, and how it isn't going to change anytime soon.
Personally, I feel nothing but pity for anyone in this situation. After all, they can't get to ZH from those places.
Remind me not to sit in their chairs . . .
There's one thing better than midget porn; MIDGET TOSSING!
In Argentina, opposition law makers provide non-government estimates of inflation because it is illegal or very difficult for private sector organizations to do so. Seems the US is taking yet another step down the path so well worn by Argentina and others. Perhaps there is merit to the SEC view, but from here it certainly smacks of abuse of gov't power.
"Opposition lawmakers announced on Thursday that prices rose 1.9% in January and approximately 23.5% in the last twelve months based on estimates of private economic consultancies which are banned from making public their estimates unless they follow official procedure for the estimates.
Early last year, Interior Commerce Secretary Guillermo Moreno imposed fines of as much as 500.000 pesos (115.000 dollars) on researchers for reporting that prices were rising faster than officially reported. Ecolatina and Orlando Ferreres & Asociados two internationally prestigious consultancies were among those sanctioned."
From http://en.mercopress.com/2012/02/11/argentine-government-and-private-sector-coincide-inflation-is-climbing-and-fast
The Billion Prices Project went non-public by becoming Price Stats. The hidden registration link is: Price Stats Registration But that page displays "User registration is currently not allowed."
I thought they promised data would be available to reality seekers everywhere. Is AR preventing free speech in US?
honesty and integrety are fu cked.
honesty and integrety are fu cked.
Marilyn Manson said it best: "Capitalism has made it this way, old fashioned fascism will take it away....."
Saying the emperor has no clothes (while the SEC watches the King having sex) is a crime in Soviet Amerika!
If you can't bullshit 'em, sue 'em. It's the US Gov't way.
Have Corzine investigate Egan Jones.....Jonny boy has time on his hands.
He doesn't have that much time...because he is busy bundling for Obama! Slime!
An obvious payback for the US downgrade.
From the systemic viewpoint, this is like an auto-immune disease.
We need to raise the debt ceiling again in a few months. Let this be a lesson to any do-gooder left alive.
Imagine the daily torture of every ethical/faithed/moral employee working these halls.
Or maybe not.
Thankfully, EJ appears to be more in command of facts than the SEC, so defense should be a cakewalk. Que the next SEC embarrassment.
Next SEC embarassment?
How about when Egan-Jones gets millions of dollars in free publicity? EJ is hoping this drags on for years, and is in the financial news daily. They couldn't buy better advertising than this.
They can deduct all their legal bills as advertising expenses, too! This is great!
In a month every trader on the planet will know who they are, and the business is going to pour in. Not to mention killing whatever is left of the competitors.
I hope Holder gets involved. That should be good for another few dozen mil in billings.
Reading this thread is proof that there are no adjectives strong enough to describe how fucked up this country is. There is no climbing out of this, everything is going to have to start from scratch one way or another. Our Founding Fathers are rolling in the grave.
SExC - what a joke.
Was egan jones the only rating agency that did not jump on the "AAA" subprime bandwagon like S&P, Moody's, etc?
"The report concluded that most of the cases began in 2008, just as the financial system began to collapse, and the problem hasn't stopped."
It takes strong and primitive stimulus to distract from self-knowledge and guilt.
WSJ little better than a mouthpiece for a hopelessly rudderless Wall Street regime and ditto the bureacratic, useless goonsquad at the SEC. I read the WSJ to see what the pointed heads are saying I am supposed to think purely for its comedic entertainment value. We know we have a captured regulatory system - WSJ is the poster child for a captured Mass Media outlet. Let alone Faux News, let alone the anti Faux MSNBC.
Like reading Blankfiend's version of the National Enquirer and about as informative. Best use: training puppies and wrapping dead fish. Dipshits.
Rant off /s/
The SEC has lost all credibility! They were "in-house" with Lehman Brothers before it's demise and they had ample time to comment on the correctness of their financial reports...and DIDN"T!!! Feckless organization! They won't go after the higher ups who are culpable because they will be implicated in the fraud!