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Moody's Says Provisions Of Fin Reg Reform Bill May "Trigger Disruptions" In Credit Market
Not like anyone cares what Moody's thinks but if even the rating agency can not spin some data in a benign way, there likely are some major sandtraps in there.
From Reuters:
U.S. lawmakers hammered out a historic
"Moody's supports
"At
overhaul of financial regulations as dawn broke over the nation's
capital on Friday, handing President Barack Obama a major domestic
policy victory.
the many measures in the financial regulatory reform bill that enhance
the transparency and accountability of the credit ratings process and
is committed to implementing them in the most effective way possible,"
Moody's said in an e-mail statement to Reuters.
the same time, we remain concerned that certain provisions of the bill
could have unintended consequences or trigger disruptions in the credit
market," the statement said.
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Moody's triggers disruptions in the credit market.
Jail them.
Yes Tyler there are.........
2000 more pages of Regs,and no one knows what's there, except these clowns.
Anecdotes I have heard thus far, any bank may be closed(on a whim), and personal loans(to individuals, may be turned down, no matter your credit history).
This IMHO means, get ready for ONE more NEW FED AGENCY to do nothing but roam around, and stick their noses into your's, and my personal accounts, and transactions.
I personally am going to remove all funds(except for monthly needs), convert them to Cad/Aussie dollars......, and move them .
Had enough of this regimes tyranny.Stay tuned, more to come.
I am amazed these folks think that they can continue to destroy our lives, and their will be no repercussions.
There will be. Seems like they are taking down the country on purpose, and pushing us INTO a Depression..........
"ONE more NEW FED AGENCY"
One ring to rule them all and in the darkness bind them.
+1
There are a few lights in the coal mine(d)s of the US Congress, but taken together they inform an Idiotocracy...doing the same lame processes that guarantee paralysis of full effect.
+++
yet, i look at the folks in the traffic around me each day and realize how tiny a number we are...
(...ikk mumbles something about being 'friggin doomed' and has a friday PM beer...)
ikk
You only need a small handful of like-minded souls (circa 5-6% if you have been reading CD's "Welcome to the Insane Assylum" - CD it's an epic and thank you) to change the world but as we are probably just clawing our way above 1% would you mind passing me another beer...
Thank you for your kind words.
For those who are interested, the entire 5 chapter series can now be downloaded in pdf format for free from scribd.com. My other articles will be posted in the coming days.
http://www.scribd.com/doc/33507389/Welcome-to-the-Insane-Asylum-Our-Collective-Psychosis
I will be doing so and printing this weekend. Thanks for the hard work and efforts CD. I'm sure I speak for more than a few on ZH when I say it is greatly appreciated.
Thanks for the link. Now I can send your work along to others in a convenient form.
No reform is serious that doesn't tax derivatives to high heaven.
Well, if the 'personal accounts' of living parasites weren't screwing over the world with destructive risk-taking, no reform would be necessary to save the capitalist system.
But they done blew it up.
Consequently, there is a global capitalist depression going on right now, managed and overseen by the bankers and the politicians they wholly own (as evidenced by this ridiculous piece of trash they're calling 'reform' today).
"2000 more pages of Regs..."
Then there are 1999 pages of Wall Street Loop Holes
Take your sodomy quietly like an orphaned alter boy at St. Vincent de Paul...
I heard moments ago BB said
And that is supposed to avoid risk??????????????
someone wkae me up when the ride is over. I am getting sick.
you mean it's not a comedy routine?
chit.
probably a health-care reform provision buried in the silly thing...
Yeah, we wouldn't want to mess with our highly healthy credit market.
financial health-care reform...
e-gad, the parallels are uncanny!
ANOTHER... Screw Amerika "Reform" Bill...
I suppose the stock market will not be effected, in their opinion?
what's moody's opinion on the euro/yen?
that is the only relevant data in this farce of a market
so effing absurd. all of it.
If you would like to throw up today, go to page 436 of the FinReg bill.
The Treasury has the authority to give these criminals $4 Trillion if it needed to prevent a financial collapse.
http://docs.house.gov/rules/finserv/111_hr_finsrv.pdf
Won't be enough, we'll just be $4 Trill deeper in debt. You can "Bank" on that!
I don't think it would ever happen... At that point, the market no longer exists...it becomes the government. Everybody packs it in. (sad to say, yes, it can get worse than what we have now)
They have already printed enough to send countiries w/sound economies, and reserves, to the table to GET rid of us.
Add 4 Trillion, which they WILL do, will just cause every nation holding our paper to cash out..........just like everone is scrambling to not be the LAST one holding Euro 1's.
Euro 2, is being planned..............a North Euro, and a South Euro.
For real.
"discount for an individual, partnership, or
corporation"
That looks to me to be the amount that is authorized per corporation, must take into account inflation. They may need to be bailed out next year.
FINANCIAL CRISIS MANAGEMENT.—
may authorize any Federal reserve bank, during such periods as the Board may determine and at rates established in accordance with the provision designated as (d) of section 14, to discount for an individual, partnership, or corporation, notes, drafts, and bills of exchange when such notes, drafts, and bills of exchange are indorsed or otherwise secured to the satisfaction of the Federal reserve bank
___
They can take any paper they want.
Can you spell "Quantitative e, a, s, i, n, g?"
(I know they were taking stuff before, but it was illegal under their charter to do so, even under their emergency act.)
___
p.s. thanks for pdf
There is no $4 Trillion that can exist since the medium of exchange can only be real if it represents stored or soon earned receipts of goods and services. The US Treasury might as well be issuing the green cheese of which the Moon consists. Madoff was prologue to the Geithner, Bernanke, Summers, Greenspan..the Fantastic Four Horsemen of the Apocalype of Confidence.
watching this euro/yen program control the markets is maddening
eats at my core
scumbags have total control over the world so long as this program is allowed to operate
and of course it is a GS/JPM/NYFED program
if it weren't them, they'd have shut it down a long time ago
it ain't like its not completely f***ing obvious or anything
jeez. sickening. those creeps need to be shut down.
Reuters needs to verify accuracy of the statement that they included in their story. It was likely taken out of context. We all know that Moody's doesn't predict anything until AFTER the fact.
To refer to FinReg as "a major domestic policy victory" for Obama is a friggin' joke!
FinReg, is just another term for MAKE WORK, and another way to get into your LIFE.(up close & real personal).
Fed Audit? Fed Audit? Fed Audit?
Hmmm... no. Well then lt's go guys as it is full speed Keynesianism ahead.
The EURO buying support continues so far...
http://stockmarket618.wordpress.com
Maybe I need some help here... How could disruption be a bad thing?
If anyone knows about triggering disruptions in the credit market, it's Moody's. By the way, I'm got a few Jan 11 puts on Moody's if anyone would like to join in =).