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Moody's Downgrades Portugal From Aa2 To A1

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Tue, 07/13/2010 - 08:08 | 465962 spoutinghorn
spoutinghorn's picture

Well, maybe it's time they employ the Joe "You must borrow and spend more to avoid bankruptcy" Biden strategy.

Tue, 07/13/2010 - 08:11 | 465966 JLee2027
JLee2027's picture

This would have been major news two months ago.  Now everyone blows it off.  Do we need to wait until countries start defaulting like dominos?

Tue, 07/13/2010 - 08:40 | 466005 CosmoJoe
CosmoJoe's picture

Yeah, but I guess the markets have "priced this in" already (rolleyes).  Just like the stock market has already priced in a double dip recession!

Tue, 07/13/2010 - 08:19 | 465974 zoogle
zoogle's picture

EURUSD getting rejected by 6 month daily trendline. Time to set up some shorts.

Tue, 07/13/2010 - 08:21 | 465978 jtmo3
jtmo3's picture

Ah, old news. Alcoa just came in .02 about the 50% downgraded earnings. Rally time. All is well.

Really though, is there anyone who believes what the rating agencies say anymore. They're a day late and dollar short. Byt he time they change their ratings, the world seems to have moved on by months, if not years.

Tue, 07/13/2010 - 08:26 | 465985 LeBalance
LeBalance's picture

(1) Come on Moody's: Look at US!

(2) It is unfortunate that a fraud rater (fraud ratings, and a rater of frauds), is still able to garner attention anywhere.  But when in the Land of the Frauds, [ Do the kabuki like they do do do ].

Tue, 07/13/2010 - 09:13 | 466053 George the baby...
George the baby crusher's picture

Moody's, what a talentless bunch of fother muckers.  Did I spell that right?

Tue, 07/13/2010 - 10:14 | 466162 luigi
luigi's picture

In the meanwhile the outlook for UK is negative, but, of course, no action in rating level has been taken by neither rating agency.

It would be naive enough to comment on the level still granted to the U.S. wouldn't it?

Sat, 08/14/2010 - 10:52 | 521636 herry
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