SEC makes S&P downgrade inquiries - Democratic Underground

FarCenter

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Thu Aug-11-11 09:27 PM
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SEC makes S&P downgrade inquiries

The Securities and Exchange Commission has asked credit rating agency Standard & Poor’s to disclose who within its ranks knew of its decision to downgrade US debt before it was announced last week, as part of a preliminary look into potential insider trading, people familiar with the matter say.

http://www.ft.com/intl/cms/s/0/9f77675e-c44f-11e0-ad9a-00144feabdc0.html

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flamingdem

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Thu Aug-11-11 09:31 PM
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1. Great, would like to know which individual/company dropped a billion into futures that day nt

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FarCenter

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Thu Aug-11-11 09:32 PM
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2. Yes, the SEC should really look into that transaction

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karnac

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Thu Aug-11-11 09:51 PM
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3. They "telegraphed" their intentions clearly at a congressional hearing last month

Edited on Thu Aug-11-11 09:53 PM by karnac

Saw it on CSPAN myself. About July 27th or so. Before the raising of the debt limit August 2nd. There also was minor hearing about it two weeks earlier which I I didn't see.

They set some hard conditions to meet before they would give the US a AAA rating in August.

I must say though that the congressfolk at the hearing didn't appear overly concerned or ask hard questions.

Maybe they thought S&P weren't serious or bluffing.

So who's fault is that somebody took them seriously while the government didn't?

Don't know anything about the insider trading thing though.

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FarCenter

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Thu Aug-11-11 10:04 PM
Response to Reply #3

4. Who 'made $10bn on 10/1 bet that U.S. credit rating would be downgraded'?

http://www.dailymail.co.uk/news/article-2023809/Did-George-Soros-win-10-1-return-S-Ps-US-credit-rating-downgrade.html

You might not bet $1 billion without an edge.

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flamingdem

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Thu Aug-11-11 11:57 PM
Response to Reply #4

6. There was info listing the companies that could have done this and

it's a short list. Soros is not on the list.

Wow, if they can manipulate like that we really are at their mercy... add those
kinds of numbers to Citizens United funding and ouch.

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femrap

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Thu Aug-11-11 10:06 PM
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5. that's rich...

the banksters and corporate assholes do whatever they want and finally when the 'regulators' decide to do their job, the SEC gets pissed.

Give me a fucking break.

Everyday there is insider trading.....and at 0% margin. Where is Glass Steagall?

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sfpcjock

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Fri Aug-12-11 12:00 AM
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7. The S&P Downgrade - Was it a Preemptive Strike Against Prosecution?

The S&P Downgrade - Was it a Preemptive Strike Against Prosecution? (video)
http://www.democraticunderground.com/discuss/duboard.php?az=show_mesg&forum=385&topic_id=608482&mesg_id=608482

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