User 378162

Egan-Jones Downgrade Could Devastate National Rural Utilities - Barron's

Egan Jones has rated many other organizations like ENRON differently than the other 3 major rating agencies. This is probably due to the fact that Egan Jones is the only agency you can't pay to get a rating. CFC has been an accounting fraud for a number of years. It's reporting of two major credit problems ( COSERV and ICC ) when researched from public information will show close to a 600M loss that is not recorded by CFC. They do this through accounting treatments originally developed by AA. They also use Texas law firms that have ties to ENRON. If CFC is forced to report loans consistent with GAAP they would be gone overnight. Egan Jones it seems has just hit the tip of the iceberg. I encourage you to dig deeper.