Moody's "Glitch" Artificially Inflates Rating On European Debt, SEC Declines to Punish
Declines. As if they could do anything in the first place.
The U.S. Securities and Exchange Commission decided against pursuing a fraud case against Moody's Corp (MCO.N) over a computer glitch that caused ratings on some European debt to be inflated.So what exactly keeps anyone from acting out if this is how our "regulators" behave? Threats? Hahahahahaha LOL threats!
In a statement on Tuesday, the regulator cited uncertainty about jurisdiction as the reason not to pursue the case against the parent of Moody's Investors Service.