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Thread: Global markets fell sharply yesterday!
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[quote=JIMMYB,438330]The SEC has launched an investigation on S&P after it downgraded the US debt from Three A to 2 plus A. The focus is “insider trading”. The SEC wants to know how many S&P staff knew the US debt credit rating would have been downgraded before S&P announced it. According to the US law, those who interfere in insider trading will be fined 1 million USD and put into jail for 10 years at most. Actually, the US Treasury pointed that there was a 2 trillion mistake in S&P’s calculations just after SP downgraded the US debt credit rating from AAA to AA+. But S&P immediately responded that 2 trillion math mistake wouldn’t change the result. Surely, the US is mad about S&P for downgrading the US debt credit rating. Someone called the SEC’s investigation “revenge” on S&P. [/quote]
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