Wednesday, May 28, 2008
Moody's Employees Who Covered Up Errors May Get the Sack
As the SEC expands its investigation into credit ratings agencies, Moody's, which is conducting its own internal investigation, led by law firm Sullivan & Cromwell, into errors in calculating credit ratings for certain complex securities,said it may fire employees if it finds that they covered up mistakes. The SEC has a report due on credit ratings to Congress by the end of June. WSJ, Moody's Tone About Probe
Into Ratings Takes a Turn.