Moody's Puts Too Big To Fail Banks On Outlook Negative Over Laughable Concerns Barney Frank May Just Let Them Fail

Tyler Durden's picture

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VK's picture

The pot calling the kettle black...

Robslob's picture

Corruption...nobody does it better and out in the open than here in the U.S.A.

Our forefathers must be rolling over in their graves right now...

bigdumbnugly's picture

sentence one:  is unfortunately proving to be correct...

sentence two:  no way, not with barney frank around and aging a little more every day.

The Rock's picture

Instead of "Donk" (Dodd-Frank), ZH should refer to the dynamic duo as "Frodd" (Frank-Dodd).

LoneStarHog's picture

That is fine as long as the "o" is pronounced "au", giving the pronouncement as FRAUD.

israhole's picture

Moody's, Fitch, S&P, represent themselves as "ratings agencies".  LOL!!

 

Listen to them, and you deserve to be broke.

virgilcaine's picture

 thats Ol Uncle Warrens oufit.

 

docj's picture

When's the next plane out of this Bizzaro World?

GlassHammer's picture

We all said this a year ago but....

"If Moody's positive ratings for the banks are based on constant government support than the ratings are garbage and should be treated as such."

This whole ratings system seems very absurd to me.

If someone asks me "Why do large companies pay for Moody's ratings?" My response will likely be "They pay them money to attach a series of letters that trick investors into buying things without looking into what they are buying".

 

magis00's picture

Wow.

 

This support has resulted in debt and deposit ratings that range from three to five notches higher than that indicated by the banks' unsupported, intrinsic financial strength.

 

True, we all noticed this long ago.  But I'm continuously amazed that more people don't see the bezzle.  It's in print.  On their website.  The AP ran a story.  And the vast majority of our fellow citizens have no idea.  Hmmm....is the U.S. credit rating "three to five notches higher" than it ought to be, too?  Crazy crazy crazy.  Humbled and Grateful, again, for ZH.

The Rock's picture

Penny-wise (when it comes to his money) but dollar-foolish (when it comes to the taxpayer's money)??  Then again, I'm not surprised.  It's in his nature.

TheGoodDoctor's picture

What don't you call it Fr-odd. Or even Fra-odd. Like as in Fraud. Clearly that is the better pun on their names considering the bill is a Fraud.