S&P To Withdraw All US Rating On May 24, Convert Everything To "Unsolicited"

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Thu, 02/24/2011 - 13:11 | 993527 the mad hatter
the mad hatter's picture

I remember on my report cards U stood for unsatisfactory, one step above F.

Anyways, this is what seems to be everyone is missing.

The global economy is being held hostage by fractional-reserve bankers. What once was a simple job storing money for people has turned into the most lucrative, corrupt industry humanity has ever seen.

They hold the economy hostage and have bought out the politicians. Inflation causes us to fight amongst ourselves while they take the gold and run.

Evil bloodsucking leeches they are. They need to pay for their bad investments, not us taxpayers.

We need banks that do not make loans and simply store money for a fee. Those banks can't go bankrupt and the fractional reserve bankers can therefore, not threaten us with a crash of the global economy and get all the money they want.

 

Thu, 02/24/2011 - 12:45 | 993451 buzzsaw99
buzzsaw99's picture

Hey S&P, don't let the door hit you in the ass...

Thu, 02/24/2011 - 13:28 | 993684 AccreditedEYE
AccreditedEYE's picture

Bank's Tier 1 Capital is going to get nuked. Question is when. FAZ bitchez... margined to buy Physical. LOL

Thu, 02/24/2011 - 12:48 | 993473 props2009
props2009's picture

In line with Moody then.

http://dawnwires.com/investment-news/moody-says-us-could-miss-interest-payment/

and

http://ransquawk.com/live

both reporting Moody. 

 

Is the US downfall imminent then? far sooner than anyone thought. I mean imagine last year we were singing songs to a EU break up and here we are thinking of theunthinkable....

Thu, 02/24/2011 - 12:48 | 993476 Ragnarok
Ragnarok's picture

Why not just close up shop? What's the fucking point?  A ratings agency that doesn't rate anything? Sounds like a gov't make-work project.

Thu, 02/24/2011 - 12:53 | 993508 Divided States ...
Divided States of America's picture

Exactly, there is no need for them to be around.

Thu, 02/24/2011 - 12:54 | 993516 karzai_luver
karzai_luver's picture

AAA++++++++

Thu, 02/24/2011 - 13:00 | 993536 DOT
DOT's picture

No point indeed. The first casualty of war in practice has been the de-basement of language.

Ratings Agency that does not rate,  contract that does not bind, obligation that does not oblige, Accounting that does not make account....... , public service that does not serve.

Thu, 02/24/2011 - 13:16 | 993632 blindfaith
blindfaith's picture

S&P, Moodys, all of them...were for those who were to lazy, or playing golf, to do their homework..  How can you trust someone that your are PAYING to give you a good rating.

That is like a trick telling some old 90 year old how wonderful and 'handy' he is.

Thu, 02/24/2011 - 12:50 | 993493 101 years and c...
101 years and counting's picture

"as we believe that we have access to sufficient public information of reliable quality to support our analysis and ongoing surveillance"

where they getting their info?  ZH?

 

 

 

 

Thu, 02/24/2011 - 13:20 | 993643 blindfaith
blindfaith's picture

Porn Sites...isn't that where 1/2 the Government workers hang out now and post important information.

Thu, 02/24/2011 - 12:51 | 993495 umop episdn
umop episdn's picture

Nobody wants to pay them for a rating that no one believes. Maybe it is time for them to close up shop. Which means it's time to have a new, better rating agency! The ZH rating agency, where all our TBTF are labeled "Ponzi, insolvent, zero, zero, zero!"

Thu, 02/24/2011 - 12:53 | 993502 Ragnarok
Ragnarok's picture

Reggie's all over it.

Thu, 02/24/2011 - 13:00 | 993541 HoofHearted
HoofHearted's picture

"ZH ratings are unsolicited and mostly undesired. That's because we here at ZH ratings don't take any shit. We don't believe in bribes. And we won't lie for anyone, whether it's a company we don't believe in or a sovereign we don't trust."

Thu, 02/24/2011 - 12:52 | 993498 Duffminster
Duffminster's picture

When sovereign nations exit their agreements with the largest rating agencies for their debt it is pretty clear that the quality of the debt is likely degrading substantially in my opinion.  What have they got to hide? 

This should really help demand in the treasury markets, eh?  QE N here we come.

 

 

Duffminster

Thu, 02/24/2011 - 12:53 | 993503 Miss anthrope
Miss anthrope's picture

Well, the U.S. in bankrupt so they CAN'T put that down.  I applaud their quasi-integrity, really. 

Thu, 02/24/2011 - 12:52 | 993504 tellsometruth
tellsometruth's picture

wow...I mean we all know how great the ratings were before... but jeezus

Thu, 02/24/2011 - 12:52 | 993505 Ayn Rand
Ayn Rand's picture

Hate to see what would happen if we didn't have the most transparent administration in history.

Where is Nixon now that we need him?

Thu, 02/24/2011 - 12:53 | 993511 tellsometruth
tellsometruth's picture

haha

Thu, 02/24/2011 - 12:56 | 993523 karzai_luver
karzai_luver's picture

The Black Tricky Dick .....

 

Nixon The Black.

 

choices choices..............

Thu, 02/24/2011 - 13:02 | 993556 DOT
DOT's picture

Ah, the good old days. What flavor will default come in this time ?

Thu, 02/24/2011 - 13:02 | 993559 DOT
DOT's picture

DP

Thu, 02/24/2011 - 12:55 | 993517 suteibu
suteibu's picture

Now S&P can do what the CIA does to get their information...read Al Jazeera.

Thu, 02/24/2011 - 12:54 | 993519 Cursive
Cursive's picture

Can anyone imagine this headline only 4 short years ago? The next wave is upon us and I know it is going to be painful, just confused about the details.

Thu, 02/24/2011 - 13:20 | 993640 Zero Govt
Zero Govt's picture

i can't imagine this climb down even now.. thought the crones, sorry CRA's, would cling to the corrupt system putting a shiny gloss on shit until the very bitter end!!!

Thu, 02/24/2011 - 12:55 | 993520 curbyourrisk
curbyourrisk's picture

Arthur Anderson thier asses....NOW!

Thu, 02/24/2011 - 16:23 | 994485 gunsmoke011
gunsmoke011's picture

I was thinking the same thing. I wonder if by now offering "Unsolicited" ratings - this releases them from any legal liability in the event we all wake up on March 15 to hear the U.S. declare itself insolvent.

Thu, 02/24/2011 - 12:56 | 993522 harrypotter
harrypotter's picture

I think they received the reliable information only from wikileaks, now that is not possible, so they want to dissolve......

Thu, 02/24/2011 - 12:57 | 993524 Misean
Misean's picture

Ratings?!? We don't need no stinking ratings!

Thu, 02/24/2011 - 13:01 | 993545 harrypotter
harrypotter's picture

now they have been rated as "XXX-"

Thu, 02/24/2011 - 13:01 | 993553 camaro68ss
camaro68ss's picture

WOW, i did not think this would happen to after the dow was under 1,000

Thu, 02/24/2011 - 13:03 | 993560 trillion_dollar...
trillion_dollar_deficit's picture

Is this not as cataclysmic of an event I am interpreting it to be? I mean holy fucking shit!

Thu, 02/24/2011 - 13:11 | 993602 No One
No One's picture

it may have been at some point in the past, when the rating agencies had credibilty. Now, not so much.

Thu, 02/24/2011 - 13:16 | 993625 WaterWings
WaterWings's picture

Hmm. Terrorist caught >>> special announcement!

Thu, 02/24/2011 - 13:06 | 993576 max2205
max2205's picture

I always mark it as TOO FUCKING LATE and WHO THE FUCK cares what and when they publish ratings

Thu, 02/24/2011 - 13:08 | 993588 Quinvarius
Quinvarius's picture

What is so important about May 24?

Thu, 02/24/2011 - 13:18 | 993638 Cpl Hicks
Cpl Hicks's picture

Check the Mayan calendar, and then...be very afraid.

Thu, 02/24/2011 - 13:20 | 993653 Cpl Hicks
Cpl Hicks's picture

Oh, and don't forget to stock up on gold and silver and guns and ammo and bulk foodstuffs and batteries and cache plenty of fuel up in the mountains near your hidey-hole. Did I forget anything?

Thu, 02/24/2011 - 13:13 | 993598 Zero Govt
Zero Govt's picture

....the world's most insolvent banana republic...

looks like you're beating S&P in ratings accuracy with that line TD .....Meredith has competition!

Thu, 02/24/2011 - 13:13 | 993617 ebworthen
ebworthen's picture

 

Standard and Poor's is going to say "unsolicited" until someone at the FED gives them a regular kickback for a AAA+ rating - probably some non-tungsten gold bars and some 3% down/3.5% APR loans on New York real estate.

 

Thu, 02/24/2011 - 13:26 | 993672 blindfaith
blindfaith's picture

OUCH!!!!

 

That is it, no more insider information for you. No soup either.

Thu, 02/24/2011 - 13:16 | 993631 I am a Man I am...
I am a Man I am Forty's picture

not sure what everyone is talking about, S and P downgraded Libya 2 days ago.

 

i thought things were cool over there until i got the downgrade from S and P

Thu, 02/24/2011 - 13:18 | 993637 topcallingtroll
topcallingtroll's picture

S and P and the other rating agency monopolists have long outlived their usefulness.

Thu, 02/24/2011 - 13:22 | 993660 Cpl Hicks
Cpl Hicks's picture

As have many other entities currently operating in the power centers of society.

Thu, 02/24/2011 - 13:37 | 993721 AntiMort
AntiMort's picture

Maybe they'll grow some balls now and put out some real ratings.

Alternately, they can continue along the same path and fade into the sunset.

Thu, 02/24/2011 - 13:43 | 993750 gwar5
gwar5's picture

They may as well write on the wall "Yes, we have no bananas" in crayon.

Though I admit it's more subtle than yelling fire! in a crowded theater. 

 

Thu, 02/24/2011 - 13:55 | 993798 themosmitsos
themosmitsos's picture

This is ......... this BIGGEST event since .... I remember reading Bush changed the rules as to what portion of banks' capital could be invested/traded in .... ???? 2004? 05?

 

US DOWNgrades are IMMINENT imo

Thu, 02/24/2011 - 14:07 | 993839 Rogerwilco
Rogerwilco's picture

Unsolicited? Fo shizzle ma nizzle.

Bad Boyz move in silence, or violence.

Do NOT follow this link or you will be banned from the site!