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Moody's Puts Credit Agricole, SocGen, BNP On Downgrade Review, Refreshes Dexia, Over Greek Exposure

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Tue, 06/14/2011 - 20:29 | 1369424 Cdad
Cdad's picture

While S&P appears to have completely forgotten about the country of Belgium

LOL!  I don't even need the rest of the article [but I'm reading it nonetheless].  Thanks, Tyler.  You prove, again and again, the old saying that you can either laugh or cry.  I prefer jiggling with laughter.

What a complete laughing stock, crocodile algo driven hoot of a market/news cycle today.

And thank you, Ben Bernanke, for the wasteland we all now live in.

Tue, 06/14/2011 - 23:29 | 1369892 Harlequin001
Harlequin001's picture

You know, this just sounds so incredibly bullish from a QE3 point of view...

Tue, 06/14/2011 - 23:33 | 1369899 Harlequin001
Harlequin001's picture


Tue, 06/14/2011 - 20:51 | 1369477 hugovanderbubble
hugovanderbubble's picture

How many days ago ive been telling this for ZH...

The problem is im a spaniard...:) and im not working for anyone...

Emporiki-------------->Default--------------------------------------->ACA FP Equity = 3 euros.


Tue, 06/14/2011 - 21:02 | 1369522 I am a Man I am...
I am a Man I am Forty's picture

Rick Santelli bitch slapped Harvard economist Frankel today



Wed, 06/15/2011 - 06:06 | 1370261 HITMAN56
HITMAN56's picture

Great video...Santelli is the man...why does he work for a shitbag network like CNBC...get him over to bbg tv

Tue, 06/14/2011 - 21:13 | 1369534 Alea Iacta Est
Alea Iacta Est's picture

So...just thinking out loud here....

Greece defaults...

Eurobanks get crushed (the ones not capitalized by QE2 in preperation for this anyway) and/or default.....

So that means nothing is left for Ireland, Portugal, Spain, Italy, etc.....

SO....are we about to see a race to default?

Last man standing gets no bailout.....

Tue, 06/14/2011 - 21:30 | 1369576 Caviar Emptor
Caviar Emptor's picture

Hint: they're ALL in the same Ponzi. That includes all big US Wall Street banks, German and English banks and the Professor and Mary Anne!

The way they made it appear that they were making billions (to justify huge fees and bonuses) was trading derivatives of derivatives back and forth to each other all day long. When the music stopped the game was how to hide it in the closet, with the help and complicity of central banks and governments. The closet door is creaking, moaning, bulging....

Wed, 06/15/2011 - 07:45 | 1370366 Urban Redneck
Urban Redneck's picture

Moody's can pick whatever list of banks it wants but there is only one list of banks that actually matter in the fiat world and it has 14 names on it.

Bank of America-Merrill Lynch
Goldman Sachs
JP Morgan
Morgan Stanley
Wells Fargo Bank

BNP Paribas
Societe Generale
Deutsche Bank

Barclays Capital

Credit Suisse

Tue, 06/14/2011 - 21:26 | 1369568 Caviar Emptor
Caviar Emptor's picture


Tue, 06/14/2011 - 21:29 | 1369573 GottaBKiddn
GottaBKiddn's picture


Oh, you mean there are aftershocks, too?

What has become of plain old international loan sharking?



Tue, 06/14/2011 - 21:54 | 1369643 JustACitizen
JustACitizen's picture

Gee - You would think that Moody's had some credibility left...

Maybe they can get together with their friends at S&P and put on a puppet show - at least that would be entertaining.

Tue, 06/14/2011 - 23:45 | 1369914 onarga74
onarga74's picture

Smells like burning swan...If the vix hits 24 I'll help bail out Greece.  May even buy the place.

Wed, 06/15/2011 - 01:28 | 1370056 Dan The Man
Dan The Man's picture

The announcement comes just as it seemed that the EURUSD was about to shake off its late afternoon swoon, and instead is now near the day's lows.


 I beg to differ....but announcement came after Tyler reminded them of the their 6 month timeline....which was up today.

Wed, 06/15/2011 - 06:56 | 1370297 uranian
uranian's picture

dexia has huge exposure to various derivatives, doesn't it? it'll be funny if the nation that we tend to regard as the source of western culture is the nation that leads the western banking system to systemic implosion.

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