I have mentioned the challenges weeklies like Businessweek and the Economist have with the financial crunch, especially since the major decisions tend to be reached on Sunday night in New York ahead of the markets’ opening in Asia. The weeklies close Thursday or Friday, and even the FT weekend edition is stuck until Monday morning […]

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I have written about the dismal performance of the SEC a couple of time, most recently to suggest that the world of finance will be a better place if the SEC is doing consumer protection and serious regulation of firms is left to the Federal Reserve.
But I didn’t know the inside details, and now Scot […]

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 After years of passivity and inaction, the SEC launched a ban on naked short selling of selected financial stocks over a weekend. Compare this to the decades it sat by and let a handful of credit rating agencies enjoy oligopolistic profits as the sole official guardians of investment grading. Now the SEC chairman, Christopher Cox, […]

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Ah ha! Credit rating agencies seem to have been up to no good. There’s a big surprise. In the US, the SEC issued the findings of a 10-month report which found all three agencies – Moody’s Standard & Poor’s and Fitch Ratings had “sacrificed quality for profit” as the Journal headline put it.
The report included […]

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