Sean Egan News
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Egan-Jones Ratings Co. was barred from grading government debt and asset-backed securities for 18 months after settling claims it made material misstatements to the U.S. Securities and Exchange Commission.
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How's this for a timeline?
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Credit rating companies are distorting capital markets by assigning the same debt ranking to countries from Italy to Thailand and Kazakhstan, according to BlackRock Inc., the world’s biggest money manager.
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The Securities and Exchange Commission, it seems, has finally lost its mind.
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The first time I wrote about Sean Egan and his small, independent credit-research firm, Egan-Jones Ratings Co., was in December 2007 for a column about the bond insurer MBIA Inc. And man, did he nail it.
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Sean Egan, president of Egan-Jones Ratings Co., talks about the European debt crisis and sovereign debt. He speaks on Bloomberg Television's "Surveillance Midday." (Source: Bloomberg)
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Sean Egan, president of Egan-Jones Ratings Co., said Germany is putting its credit grade at risk if it commits to more aid for debt-strapped countries, Welt am Sonntag reported, citing an interview.
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Egan-Jones Ratings Co. and its founder Sean Egan sued the U.S. Securities and Exchange Commission to force the agency to bring its allegations of misrepresentation against the firm before a federal judge.
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Jefferies Group Inc. jumped 23 percent, the most in three years, after fiscal fourth-quarter profit beat analysts’ estimates and Egan-Jones Ratings Co. said the firm may not need to raise more equity.
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Egan-Jones Ratings Co. and the firm’s owner and president, Sean Egan, were sued by the U.S. Securities and Exchange Commission, which claimed material misrepresentations and omissions in the company’s July 2008 application to register as a ratings organization.
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