Well, now the SEC might not be giving away those free passes away any longer. Statute of limitations nonewithstanding.
Today's Wall Street Journal headline on page c1 reports: Raters Drawing SEC Scrutiny.
"U.S. securities regulators are weighing civil fraud charges against some credit-rating companies [Moody's] for their role in developing the mortgage-bond deals that helped unleash the financial crisis..."
Now, we don't think Uncle Warren will be called in front of a congressional sub-committee anytime soon. Our continued bet is on another appearance on MSNBC with his friends explaining it was really no big deal.
Really.
As part owner of Moody's [via Berkshire Hathaway] the question will remain until the end of time: Where was Warren Buffett?
