This is disturbing. The major credit rating agencies hiding their internal communications using text messages and other apps.
SEC fines Moody's $20M. Great headline, but MCO made $1.6b.
If you make $50k/year - AFTER all your bills are paid! - , it'd be like getting a $625 traffic ticket (assuming my math is right).
So SEC feels good about themselves, the credit rating agencies are now absolved of their sins after a paltry fine and we, the public, still have no idea what they were hiding.
I know that long term investing in equities has historically been profitable, even for average folks. That said, what a pit of snakes.
SEC fines Moody's $20M. Great headline, but MCO made $1.6b.
If you make $50k/year - AFTER all your bills are paid! - , it'd be like getting a $625 traffic ticket (assuming my math is right).
So SEC feels good about themselves, the credit rating agencies are now absolved of their sins after a paltry fine and we, the public, still have no idea what they were hiding.
I know that long term investing in equities has historically been profitable, even for average folks. That said, what a pit of snakes.
