David Takes On The Porn-Addicted Goliath: Egan-Jones Countersues The SEC

``As this Complaint makes unmistakably plain, a credit ratings agency ("CRA") that the SEC chose to hold "accountable" since 2008 is Egan-Jones -- the one small independent ratings firm that actually warned the capital markets of dangerously over-rated ABS and CDO debt and has long been a valuable independent bellwether of true credit quality. The Administrative Proceeding is the latest in a series of SEC actions which are designed to diminish and marginalize Egan-Jones while supporting and maintaining the status quo of an issuer-paid ratings agency monopoly in direct, indeed, striking contravention of specific Congressional direction in both the Reform Act and the Dodd-Frank Act. ''