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Moody's Says May Cut Greece To Junk Within A Month, Portugal To Aa3

Tyler Durden's picture


Full Moody's report:



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Mon, 05/10/2010 - 12:40 | Link to Comment Turd Ferguson
Turd Ferguson's picture

Wait a second...I though the US govt gave Moody's a Cease and Desist?


Maybe, on the way out, Moody's is finally singing, like a mafia turncoat, on his way to the hole.

Mon, 05/10/2010 - 12:56 | Link to Comment Noah Vail
Noah Vail's picture

Didn't the EMU just yesterday promise to throttle the agencies by threatening them with licensing to do biz in Fantasy land? Well, they cant license them in the US so what are they gonna do, stop all transatlantic comms? Looks like Moody's decided to either retaliate or call their bluff.

Mon, 05/10/2010 - 12:42 | Link to Comment lizzy36
lizzy36's picture

will moody's exist in a month?

at this point who gives a shit about what ratings agencies have to say?

isn't the point of this exercise to make shitty sovereigns interchangeable with even shitter sovereigns?

kind of like making linsday lohan interchangeable with meryl streep.

Mon, 05/10/2010 - 13:01 | Link to Comment BlackBeard
BlackBeard's picture

I care.  Because, I like to have a good laugh when I have my morning coffee and donut.

Mon, 05/10/2010 - 12:43 | Link to Comment jkruffin
jkruffin's picture

Check out the UK 10yr yields now,   3.93% and climbing.  Time for treasuries around the globe to blow up.  Rates are going much much higher as hyperinflation rears its ugly head now.   These monetary policy makers have ruined the global economic system.

Mon, 05/10/2010 - 12:43 | Link to Comment Troy Ounce
Troy Ounce's picture

The whore of Wall street is shouting at one of their non-paying clients.

She does not have the guts to downgrade her biggest pimp as she damn well knows who feeds her.

Tomorrow you'll see her in the news again: infected with a horrible disease she knows it won't take long before she will be found in a ditch.

OK, I feel better now. Thanks

Mon, 05/10/2010 - 13:04 | Link to Comment Cognitive Dissonance
Cognitive Dissonance's picture


It's extremely satisfying to projectile purge every now and then. It's sort of like indulging in a good long cry. It clears out all the emotional garbage and refreshes the soul.

Just turn your head next time. Those were my best shoes.

Mon, 05/10/2010 - 14:22 | Link to Comment DaveyJones
DaveyJones's picture

No matter how hard I try, it's difficult to discuss these subjects without some image of prostitution or bulimia always poking in.

Mon, 05/10/2010 - 12:45 | Link to Comment Hughe Crapper
Hughe Crapper's picture

Inflation, inflation, stop me if you can...Inflation. Don't you love Keynesian economics.

You gotta love it. (^_*)

Mon, 05/10/2010 - 12:45 | Link to Comment Hx3
Hx3's picture

Cool...we now have failed Rating Agencys rating failed States...CLASSIC!

Mon, 05/10/2010 - 12:47 | Link to Comment Hx3
Hx3's picture

Cool...we now have failed Rating Agencys rating failed States...CLASSIC!

Mon, 05/10/2010 - 12:48 | Link to Comment jkruffin
jkruffin's picture

Don't you love the "shock and awe" articles in the media today?  It's fitting, because this is no longer a market, its a warzone, that will preempt a real war very soon.

Mon, 05/10/2010 - 12:55 | Link to Comment nonclaim
nonclaim's picture

Awesome great news from citi:

1647 GMT [Dow Jones] CitiFx says the key result of the actions in Europe are that credit risks associated with holding the debt of the periphery of Europe are no longer what they were last week. "[The] bottom line is that if you held Greek paper last week you were exposed to the risk of a Greek default. Now your exposure is to Europe, as that Greek paper is effectively backed by the other governments of the Eurozone," it says. "This is a major step towards getting to the heart of the problem in Europe...a single European bond market," Citi says. If successful, it will be a major part of strengthening EUR as a serious global reserve currency, it adds. (

Mon, 05/10/2010 - 13:07 | Link to Comment cossack55
cossack55's picture

I wasn't holding any greek paper.  Were you?  Do you think Sh....Citi may have been holding.  Gee, I don't know.

Mon, 05/10/2010 - 12:55 | Link to Comment TooBearish
TooBearish's picture

Thing is the bailout morphed overnite from 440bil + IMF to 1 trillion, typical advanced Wall St math....

Mon, 05/10/2010 - 12:56 | Link to Comment Rogerwilco
Rogerwilco's picture

The Inner Party has decided, and now the Outer Party will make it so. The proles will march off to war in due course. George Orwell was a frikkin' genius!

Mon, 05/10/2010 - 13:04 | Link to Comment primefool
primefool's picture

This is Moody's as they are being dragged off to jail" This is an outrage. I'll downgrdae all of you. I'll move all of europe to sub-investment grade, the US too! Iam coming Iam coming - stop pushing me! All of you - I say you are  all junk - I'll downgrade you - all - sob - sob - I dont LIKE you - sob - sob - ..."

Mon, 05/10/2010 - 13:06 | Link to Comment Cognitive Dissonance
Cognitive Dissonance's picture

"I'm gona tell mommy you were mean to me."

Mon, 05/10/2010 - 13:44 | Link to Comment sheeple
sheeple's picture

1 trillion dollar bailout, everything is AAA again

Mon, 05/10/2010 - 13:10 | Link to Comment primefool
primefool's picture

Wow - I thought the Euro spike would last at least 24 hours - I guess not!

Mon, 05/10/2010 - 13:17 | Link to Comment Mako
Mako's picture

Euro is back to dropping. 

EUR/USD 1.2766 + 0.0007
Mon, 05/10/2010 - 13:40 | Link to Comment sheeple
sheeple's picture


Our ratings provide a forward-looking, methodology-based rank ordering of credit risk, and give greater weight to medium-term considerations than to transient short-term problems.


Translation: Everything is AAA until shit hits the fan

Mon, 05/10/2010 - 14:01 | Link to Comment bugs_
bugs_'s picture

Deep Shah.

Mon, 05/10/2010 - 14:04 | Link to Comment Leo Kolivakis
Leo Kolivakis's picture

Moody's is a joke and Europeans know it. That is why they wil create their own rating agencies. The gig is up Moody's.

Mon, 05/10/2010 - 14:09 | Link to Comment williambanzai7
williambanzai7's picture

Hope they're around to issue their update.

Mon, 05/10/2010 - 14:44 | Link to Comment Rick64
Rick64's picture

When is one of the other corrupt rating agencies going to downgrade Moodys?

Mon, 05/10/2010 - 14:53 | Link to Comment No Hedge
No Hedge's picture

Who is largest stockholder of Moodys? BUFFET...Just guessing is he short of EU debt or not? I guess he is...he is even long Goldman...Buffet is not guy he onece was...rating agencies are joke...who acctualy needs them? If you are pro, you shold know what risk you are taking...and if you are not pro,who cares about risk :-)

Mon, 05/10/2010 - 15:46 | Link to Comment Problem Is
Problem Is's picture

I'm making a movie:

"Financial Death Race 2010"

Plot: Will the Moody's Nitro-mobile run the Greek Olive-garchy Cart off of the road before the hapless DOJ-mobile impales Moodys in a cataclysmic fire ball?

Will the Warren Nebraska Huckster mobile get his fuel out of Moody's warehouse before the SEC Porn-mobile pulls up the Bang-Bus and gangs Uncle Warren on insider trading?

Once SEC-porned will the GS Lloyd-Fab-Fab-Express mobile grab Warren and pants his lame Corn-hole ass taking off to Death Race victory with Warren's investment?

Once you see the trailer and Cindy McPain in the Palin McMILF mobile shouting "Golden Shower boys?" as she runs drivers off of the road...

You'll be buyin' tickets...

Mon, 05/10/2010 - 22:28 | Link to Comment Mark McGoldrick
Mark McGoldrick's picture

Why do we have ratings agencies in the first place? 

If we got rid of them, it would force the buyers to do more diligent homework on the bonds they're buying.

The market will determine the true quality and price of an asset, anyway.

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