Why not punish the big guys as well?
The SEC has barred Egan-Jones Ratings Co. from issuing ratings on certain bonds. Egan-Jones is a very small firm in the ratings business; it has five credit analysts and supervisors, while S&P has 1,416 and Moody's has 1,252. Clearly, the major agencies bear much, much more of the blame for the Great Recession than Egan-Jones. But, as of now, only Egan-Jones is being punished.
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