Ratings Agencies

Tyler Durden's picture

Spain's Election Quagmire: What Wall Street Thinks





Don't look now, but Brussels’ preferred Spanish PM is about to be ousted by a coalition of leftist parties, and that, in turn, suggests that the idea of fiscal retrenchment will be thrown out, along with anything that even looks like austerity. That could trigger a showdown between Madrid and Brussels over Spain’s intention to adhere to EU deficit targets.

 
Tyler Durden's picture

Visualizing Brazil's Economic Decline In One "Straight-Line" Chart





From EM darling to depression, it's been a rough ride for the "B" in BRICS. As we kick off 2016, analysts are growing increasingly concerned that Brazil's economic downturn could well be deeper and longer than anyone expected. The market's collapsing expectations are summarized in one stunning chart.

 
Tyler Durden's picture

Junk Isn't Very Noble: Asia's Largest Commodity Trader Responds To Moody's Downgrade





For now Noble refuses to throw in the towel, and overnight released the following statement on the Singapore Exchange where its massively beaten down stock trades.

 
Tyler Durden's picture

The Great Disconnect Is Palpable





Taken together with the rather steep drop in US industrial production, the risks of a full-blown and perhaps severe recession have undoubtedly grown. Unlike what the FOMC is trying to project via the federal funds rate, a rate that isn’t being fully complemented, either, at this point, visible economic risk is not just rising it is exploding.

 
Tyler Durden's picture

Market Shudders As Brazil Risks "Succumbing To Fiscal Populism" With New FinMin





Brazil has a new finance minister and the market is not happy. As BofAML puts it, "the focus turns now to the direction of the fiscal policy under the new FinMin, which should affect the recovery in confidence and thus growth. With mounting downside risks to growth that heavily weigh on the government’s revenues and the ongoing challenges in passing fiscal measures in Congress, tangible results over statements will now be needed to improve expectations over primary fiscal results ahead."

 
Tyler Durden's picture

How To Profit From The Coming High Yield Meltdown





"Like most turns in the credit cycle, it is uncertain exactly when the bottom will fall out of corporate credit markets, but the catalyst is likely to be an unexpected major event, perhaps even a single company getting into trouble. While we have been bearish on high yield for over a year now, we didn't think the conditions were yet ripe for a collapse. Now they're ripe."

- Ellington Management

 
Tyler Durden's picture

"Liar Loans" Are Back! 2008 Here We Come





Liar loans are back from the dead which means that if you look under the hood, you might just have a shoddy credit or two hiding in the collateral pool of your triple-A mortgage-backed paper. Meanwhile, in a further sign that we've learned nothing since the crisis, non-Agency RMBS is set to stage a comeback.

 
Reggie Middleton's picture

A Forensic View of a Wall Street Bank Balance Sheet Shows How Much Risk Rests In Its "Assets"





After forensically analyzing Morgan Stanley's balance sheet (which is very much like the rest of Wall Street's balance sheet) I can draw direct parallels to that of Lehman and Bear Stearns in 2007. It's a party!

 
Tyler Durden's picture

Government Gives Away Billions In Grants To Students Who Never Graduate





Want further evidence of the misappropriation of taxpayer funds to post-secondary education? Look no further than the Pell grant program.

 
Tyler Durden's picture

The Federal Reserve Is Not Your Friend





Imagine that the Food and Drug Administration (FDA) was a corporation, with its shares owned by the nation's major pharmaceutical companies. How would you feel about the regulation of medications?  Whose interests would this corporation be serving? Or suppose that major oil companies appointed a small committee to periodically announce the price of a barrel of crude in the United States. How would that impact you at the gasoline pump? Such hypotheticals would strike the majority of Americans as completely absurd, but it's exactly how our banking system operates.

 
Tyler Durden's picture

The Shocking 2008 AIG Report On "Empire Europe" And The Death Of Greece





"What Europe Wants" - to use global issues as excuses to extend its power:

  • environmental issues: increase control over member countries; advance idea of global governance
  • terrorism: use excuse for greater control over police and judicial issues; increase extent of surveillance
  • global financial crisis: kill two birds (free market; Anglo-Saxon economies) with one stone (Europe-wide regulator; attempts at global financial governance)
  • EMU: create a crisis to force introduction of “European economic government”
 
Tyler Durden's picture

Who Is Stoking The Trillion Dollar Student Debt Bubble?





The fox is guarding the henhouse at America's colleges and universities as accreditors slap a seal of approval on schools with subpar graduation rates, clearing the way for government aid to flow where it shoudln't and further imperiling the US taxpayer in the process.

 
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