[staten]

Really? You want MBA's and (gulp) SEC Regulators going over the books??? If they go through with this, they will have to post their financials every three months. INCLUDING defaults. They cannot BS and lie about them either.

A BD Rep trying to solicit ISO's is one thing, but The SEC? People go to jail for that

They had to disclose defaults to get a rating. Already done. Very easy to manipulate bad debt methodology. Also somewhat easy to "hide" defaults as long as the book is growing.

[Capital Stack]

very good point staten