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Egan-Jones downgraded Ambac/MBIA to junk today.
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Pressure mounting on S&P, Moody's, and Fitch
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Need to raise $30B to stay AAA for each company. There are 7 companies.
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Egan-Jones was first to identify Enron and Worldcom as problem children.
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Egan-Jones is paid by investors. Moodys/S&P/Fitch are paid by issuers.
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You can bet the securities litigators are dancing naked on the rooftops.
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It's just a matter of time. Very little time.
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CRASH-CON 1 is looming.
