Moody's Downgrades Spain To Aa1, As Goldman Rushes To Explain How It Was All Priced In

Tyler Durden's picture

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bigdumbnugly's picture

in other words there is no more running of the bulls in spain?

cossack55's picture

Correct.  Next year Pamplona will offer the "Running of the Banksters".  I envision much fun as there will be no wooden stanchions along the route, just Spaniards and a few ex-pats with clubs and knives.  I look forward to attending and long live the Basques.

bigdumbnugly's picture

something tells me the banksters wouldn't make it quite as far out of the shoot as the bulls do.

New_Meat's picture

"... wouldn't make it quite as far out of the shoot..."

Freudian and good, lol.

- Ned

john_connor's picture

Is Goldman's impending bankruptcy priced in?

MarketTruth's picture

Won't happen, they are bedmates with the Fed. So is JP Morgan of course.

Bigger Dickus's picture

AYIE, AYIE, AYIE, tan poco crédito.

El mayor problema de los espanoles: 50% son maricones. Los otros 50% son mujeres. lol

Hedge Jobs's picture

Nielsen is such a tosser. If moodys is somewhat "impressed" then why the downgrade erik you moron?

Josephine29's picture

Those concerned about Spain might have some interest in this piece of breaking news. According to notayesmanseconomics blog.

"The debate on Spanish statistics has moved on this morning as according to the Financial Times an email has been doing the rounds suggesting that Spanish GDP has been overstated by some 14.2%."

He has gone to read it and analyse it,but I am sure that everything is ok as Erik Nielsen keeps telling us.....


Number 156's picture

Please see the Credit Policy page on for the methodologies used in determining ratings, further information on the meaning of each rating category and the definition of default and recovery.


Credit policy page, AKA the funny pages.

A Man without Qualities's picture

I wonder how much the possibility GDP has been overstated is priced in?

Dollar Bill Hiccup's picture

Oh, stop worrying about those pesky Spaniards. German unemployment just dropped by 40,000 to 7.5% ...

docj's picture

I'm heading over to Spain (Madrid, to be precise) in mid-November for a conference.  Looks like I'll be getting there just in time for some serious "shit hitting fan" fun.  Yippee!

cossack55's picture

I would advise taking a large, red beret and a large fake mustache.  Also, a good pair of running shoes.

Dismal Scientist's picture

This is what happens when you insist on independence from the mainland, and gets into bed with Europe instead. If only the Republic had stayed under the protective wing of Westminster, then it would all be different. For starters, the Irish would have a weaker currency ;-)


senthil456's picture

There are certainly a lot of details like that to take into consideration.I read and understand the entire article and I really enjoyed it to be honest.
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