Credit Ratings Agency Moody’s Gets Cut as SEC May File Suit

FINALLY. The SEC is getting around to whacking credit ratings agency Moody’s (MCO). The company was at the heart of the CDO scam, and now they have been notified the SEC may charge them with filing false and misleading descriptions of its credit-rating policies. With Goldman Sachs (GS) under pressure, it seems we are reaching the clean up phase of the last bubble. Today, Moody’s got cut almost 7%: