Scott McCleskey, a former Moody's senior vice president of compliance, sent the SEC a letter in March 2009 alleging that he was routinely ignored when he warned that the firm was not properly monitoring municipal bond ratings.
Eric Kolchinsky, a recently suspended managing director at Moody's, will tell Congress that analysts are "bullied" by managers who override their decisions to generate revenue.
"Kolchinsky tried to tell the SEC about his concerns but his calls were not returned," according to a memo prepared by Republican members of the committee and obtained by Reuters.
In other words, we are doing all we can to make the lives of our future employers cushy and devoid of any jail time. In the meantime we have an inbox full of tips and concrete information that highlights criminal activity that we may actually open up some time in 2018, or by the time the SEC is dissolved with impunity for being a $900 million annual drain of taxpayer money, whichever comes first.
Join us on our
Share this page with your friends
on your favorite social network: