In a pay-to-play game ratings agencies were trusted by Americans until problems becmae obvious in 2007. An SEC investigation of ratings agencies could turn up some interesting facts. While the Dow Jones Industrial Average rose almost 4 percent Monday, share prices for Moody’s Corp. tumbled 7.19 percent as investors digested confirmation of a Securities and Exchange Commission investigation into the credit-rating agency.
The fall in Moody’s share value to $21.68 dragged down its chief competitor, Standard & Poor’s , part of McGraw-Hill Companies, which fell almost 4 percent.
Most Americans look forward to the truth and welcome the SEC investigation.