Chinese Bondholders Group complains to SEC about lax enforcement

"The credit rating agencies, Standard and Poor's, Moody's and Fitch are clearly aware of China's defaults, yet turn a blind eye in order to rake in immense profits from China even though giving premium credit rating status to the People's Republic of China enables the opportunity for more losses to American investors. The rating agencies' failure to acknowledge China's default by assigning the truthful 'Selective Default' rating classification to the Chinese government (as required by the rating agencies' own published definitions and rating criteria) reveals the credit rating agencies' complicity with China in the perpetration of a fraud upon the investing public. Investors have experienced the devastating effects firsthand from similar scandals in the past, including World Com, Enron, and most recently, the sub-prime markets ... when will it end?"