Saturday, August 13, 2011

The SEC is reviewing S & P

And there might be an actual investigation from this as there are allegations of insider trading concerning the downgrade.
SEC inspectors are examining S&P’s policies for conducting such analyses and whether those procedures were followed when the New York-based firm downgraded the U.S.’s credit rating Aug. 5, said the person, who declined to be identified because the inquiry isn’t public...

SEC staff are also looking into whether certain market participants learned of the downgrade before its announcement. The inquiry, which is in preliminary stages, may not result in a referral to the SEC’s enforcement division, the person said...

“S&P takes its confidential information and securities trading policies, and the related securities regulation, very seriously,” Sweeney said in a statement. “Our policies prohibit analysts or rating committee members from trading and holding securities or options of the companies or governments they rate.”
Insider trading to the SEC is like medical marijuana to the Attorney General. If there is anything there they will find it.

// posted by montag @ 2:15 PM
Comments:
Insider trading to the SEC is like medical marijuana to the Attorney General. If there is anything there they will find it.

Um, are you kidding me?

Wall Street was built on insider trading. Those billions and billions of dollars in "profit" the banks have "earned" these past few decades? Insider trading and market manipulation.

The SEC may find insider trading, but that doesn't mean they will do anything about it. They almost never do unless it is very high profile or the person is very lowly in importance.
# posted by Blogger Bucky : 7:43 PM
 

Post a Comment

Subscribe to Post Comments [Atom]





<< Home

This page is powered by Blogger. Isn't yours?

Subscribe to Posts [Atom]