Gloomy Forecast for Europe's Banks - Barrons.com
highly recommended.Time and again, Sean Egan and his team at Philadelphia-based Egan-Jones Ratings have made important calls months ahead of their better-known rivals. The firm has won grudging respect for its work on Ambac, CIT, Countrywide, General Motors, IndyMac, Lehman Brothers, MBIA and New Century, all of which encountered big problems after getting poor credit grades from Egan-Jones.
The firm is a Securities and Exchange Commission-regulated rating agency, whose customers pay for the research and the rating. In contrast, Moody's, S&P and Fitch are paid by the issuers of the securities that they are rating.
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