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Timing of stock sales by Moody's chief raises questions

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posted on Jul, 29 2010 @ 07:45 PM
Here's a cute one. Does anyone take the clowns at the rating agencies seriously anymore? Its a sad day when the Chinese are setting up a new rating system that looks like it might actually be more reflective of reality than the "everybody gets a gold star on the forehead" hucksters in the US.

Timing of stock sales by Moody's chief raises questions

The chief executive of Moody's Investors Service sold almost $3 million in company stock this year, and $7.1 million last year, both times right before his company's stock price fell from its peak levels, a McClatchy analysis has found.

In one case, CEO Ray McDaniel sold 100,000 shares of Moody's stock on the same day that the Securities and Exchange Commission notified Moody's that it was under investigation

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posted on Jul, 29 2010 @ 08:14 PM
Sadly the bankers who look after the wealth of our Western people do still take the ratings agencies seriously. Don't know how long it will last, because Chinese and Western wealth, tends to remains in very seperate hands.
If there is a pattern in Moody's patterns, then maybe it's time to dial a stock brocker and do some reverse trading!!! After all, I'm guess that's sure that'll be their next move!!!

posted on Jul, 29 2010 @ 08:55 PM
to be honest
I have no idea why we even have an SEC.
Can anybody tell me when the last time
they had an insider trading conviction
upheld. Was it Madoff or Martha ????
As much illegal activity that goes on
and to have so few indictments
brings serious concerns of whether or
not SEC is taking bribes from Wall Street
or either these trades are tied to the
Federal Reserve. Lord knows we can't
go after the Feds. Our world would collapse.
/sarcasm off

Let it fall !!!!!

posted on Jul, 29 2010 @ 10:52 PM
reply to post by boondock-saint

You touch on an important point: the SEC is useless. Enforcement of our financial sector is no duty to trust to a eunuch.

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