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Bank Downgrade Forward Calendar

Tyler Durden's picture




 

A major potential negative catalyst for financials globally is rapidly approaching as 114 banks are on review-for-downgrade by Moody's across 16 countries. Why do we care so much about ratings given their historical credibility? Ask James 'Jimmy-boy' Gorman of Morgan Stanley who is currently begging cap-in-hand to Moodys not to downgrade his empire bank, since he knows (and so it seems does the CDS market) that, as the FT notes, a downgrade could also force the bank to provide additional collateral to back its vast derivatives business - where it acts as one of the largest counterparties. In Europe, the fun heats up in the next few weeks as first Italian banks (4/16), then Spanish banks (4/23) and then Austrian (4/30) face from 1 to 4 notch downgrades and the potential to lose their short-term (funding-/CP-related) Prime-1 top rating, implicitly raising funding costs (and liquidity concerns) even further.

 

 

and potentially even more serious, banks that face loss of P-1 short-term rating...

 

Source: (ironically) Morgan Stanley

 

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Thu, 04/05/2012 - 13:58 | 2319979 suckerfishzilla
suckerfishzilla's picture

Global governance wouldn't be bad.  So long as we are the ones governing. 

Thu, 04/05/2012 - 15:09 | 2320127 Schmuck Raker
Schmuck Raker's picture

Define 'we'.

I'm not partial to having someone named Suckerfishzilla running things, for example.

Thu, 04/05/2012 - 15:11 | 2320135 Piranhanoia
Piranhanoia's picture

What it's platform?  No one ever heard of Milton V. Glorfab either.

Thu, 04/05/2012 - 16:05 | 2320311 JPM Hater001
JPM Hater001's picture

Salt water mostly.  goes well with pineapple.

Thu, 04/05/2012 - 13:58 | 2319980 tempo
tempo's picture

HARP2 encourages borrowers with low credit scores, no assets, and underwater mortgages to refinance at record low rates. Only in fantancy land we call America.

Thu, 04/05/2012 - 14:19 | 2320020 FlyoverCountryS...
FlyoverCountrySchmuck's picture

Except that when 'Bank-added requirements" are calculated in, NO ONE IS REALLY GETTING REFINACNED by these amazing propoganda programs!

Thu, 04/05/2012 - 14:01 | 2319982 vmromk
vmromk's picture

Bernanke, put on your Superman costume and save your fellow CRIMINAL bankers.

All you pieces of shit belong in prison.

Thu, 04/05/2012 - 14:30 | 2320044 He_Who Carried ...
He_Who Carried The Sun's picture

Gold traded at $1,631.90 by 11:07 a.m. today, for an annual gain of 4.2 percent. That compares with a 6.6 percent jump in the Standard & Poor’s GSCI gauge of 24 raw materials and a 9.7 percent increase in the MSCI All-Country World Index of equities. Treasuries lost 1.4 percent.

Thu, 04/05/2012 - 16:20 | 2320356 Vince Clortho
Vince Clortho's picture

Not to worry.  The Bearded Crusader is ready to leap into action and save the world (again) at a moments notice, or even less because of his super-printing-powers.

Thu, 04/05/2012 - 14:00 | 2319983 williambanzai7
williambanzai7's picture

The mother of AIGs...Morganzilla,

Thu, 04/05/2012 - 14:25 | 2320032 His Dudeness
His Dudeness's picture

Mr. Banzai,

It is good to be 'out' and able to continue the inanity where we left off!!!!!!

The Dude...

Thu, 04/05/2012 - 14:03 | 2319985 JW n FL
JW n FL's picture

 

 

short the banks who fund Rio Tinto and Anglo American!

Black Power takes Mines from Whitey!

Kill, Kill, Kill the White Man! Or just take his Billions invested! And his Gold from him! That’s worse than death for Wall Street! Time to get some Private contractors to go clean up this mess.. Before it goes public and the Whole World is Watching! LOL!!

http://www.google.com/hostednews/ap/article/ALeqM5gO0cTpcrtDfrXsoc2GgVsrudLZ8A?docId=5ad63201d5f34d99b8925cd9012b0c47

Minister Saviour Kasukuwere said in a statement that all companies that did not meet a late 2011 deadline to submit proposals to cede a controlling stake to blacks have forfeited 51 percent of their shareholdings and are now "deemed to be owned by the state."

Zimbabwe has large Australian, Canadian and South African mining interests — including giants Rio Tinto, Canadile and Anglo American — and with scores of small white-owned gold mines.

http://www.mashpedia.com/Anglo_American_PLC  <--- try this MashPedia out..

http://www.mashpedia.com/Rio_Tinto_Group <--- try this MashPedia out.. this could go places depending on the depth built in to the information communicated!

 

And!! Let us Not! forget Anglo America Mining and Rio Tinto have other issues in South America!

 

And!! Let us NOT! forget Anglo American Mining and Rio Tinto have other issues in Alaska / Canada!!

https://secure.nrdconline.org/site/Advocacy?cmd=display&page=UserAction&id=2741&autologin=true&JServSessionIdr004=tnbxdvcjg4.app306a

http://www.youtube.com/watch?feature=player_embedded&v=HLTAq8NnkJc

are you short mining stocks?

 

Thu, 04/05/2012 - 14:07 | 2319995 WAMO556
WAMO556's picture

No! but companies like SANDLINE may get the private security contracts that you were talking about. Gotta have physical security.

Thu, 04/05/2012 - 15:57 | 2320287 smiler03
smiler03's picture

What an amazing qualification to acquire...sounds ideal if you want to work for "the other side"... 

Master in Terrorism and Security
Thu, 04/05/2012 - 14:02 | 2319987 WAMO556
WAMO556's picture

I think that I remember some smart guy saying that one banks assets were another banks liabiliities. There probably should be a whole buncha more banks on the list - just saying.

Thu, 04/05/2012 - 14:03 | 2319989 jcaz
jcaz's picture

That's how it all ends-  margin calls....

Thu, 04/05/2012 - 14:06 | 2319992 Belarusian Bull
Belarusian Bull's picture

What kind of collateral do they usually use for derivatives?

Thu, 04/05/2012 - 14:21 | 2320022 Village Smithy
Village Smithy's picture

Our UST's.

Thu, 04/05/2012 - 14:09 | 2319993 Stoploss
Stoploss's picture

Shit, were going to need total foam encasement inside the thick golden covered outer shell, crash helmets aint gonna work this time.

Thu, 04/05/2012 - 14:08 | 2319997 Straying from t...
Straying from the flock's picture

Here is what I just told my nearest and dearest:

http://strayingfromtheflock.org/2012/04/05/an-open-letter-to-my-friends/

Please take a moment and read my ranting.

Thu, 04/05/2012 - 14:24 | 2320028 suckerfishzilla
suckerfishzilla's picture

I got so many mercury dimes it's not even funny.

Thu, 04/05/2012 - 14:32 | 2320045 Dr. Engali
Dr. Engali's picture

You know a couple of those mercury dimes will buy you a gallon of gas just like they would have in the 60s....just saying..

Thu, 04/05/2012 - 14:28 | 2320037 hardcleareye
hardcleareye's picture

I believe that if things get that bad they will not only take your printed currency but anything else of value, including gold, silver, land and even your life......

Thu, 04/05/2012 - 14:32 | 2320048 Straying from t...
Straying from the flock's picture

That may very well be the case, but they will get a fight from me. 

Thu, 04/05/2012 - 15:04 | 2320115 DoChenRollingBearing
DoChenRollingBearing's picture

+ 1  Very nice rant

I ranted earlier to those of my nearest and dearest, but few listenend and the end has not yet happened.  So, I have given up trying to convince others I personally know to prepare.  They either do not know or do not care or just don't want to think about a catastrophe.

Thu, 04/05/2012 - 14:19 | 2320007 Dr. Engali
Dr. Engali's picture

Coming to a checkpoint near you..Homeland secrity is buying bullet resitance booths in addition to their 450 million rounds of ammo:

 

http://www.prisonplanet.com/after-huge-ammo-buy-dhs-purchases-bullet-resistant-booths.html

Thu, 04/05/2012 - 14:21 | 2320023 hardcleareye
hardcleareye's picture

"The purpose behind the bullet proof booths is unknown, but the DHS has publicly announced that it plans to increase the number of unannounced checkpoints manned by TSA VIPR teams and other federal agents beyond the 9300 that were set up last year alone."

I go thru these (choose your vulgar word) check points at least twice a month, and now they are going to be increasing them???????  and dragging along little booths!!!!! 

I am having a hard time understanding this.... I believe I am suffering from "normalcy bias". <sarc>

Thu, 04/05/2012 - 14:15 | 2320013 hardcleareye
hardcleareye's picture

Source: (ironically) Morgan Stanley

 

Did I miss it? I didn't see them on the list of down grades. 

Thu, 04/05/2012 - 14:18 | 2320016 Nothing To See Here
Nothing To See Here's picture

Hey, it's not like it's gonna be Moody's who'll call down the banks first...

Thu, 04/05/2012 - 14:20 | 2320021 SheepDog-One
SheepDog-One's picture

I dont really see how bank or any other downgrades are relevant. Unless the play is to buy things that get downgraded because downgrades seem to be totaly meaningless and a go-ahead to double in valuation.

Thu, 04/05/2012 - 14:26 | 2320031 banksterhater
banksterhater's picture

Mothaphuckr Bernanke took $1.5 TRILLION(1/2) of CRE loans off MOTHAPHUCKA BANKSTERS BALANCE SHEETS and CRE fell 40%, it's all marked 100% and the MOTHAPHUCKAS got 2 years extension but now this TOXIC WASTE IS COMING DUE 2012-13, WHERE IS THE WASTEDUMP?

Thu, 04/05/2012 - 14:44 | 2320069 Tsar Pointless
Tsar Pointless's picture

Here is the physical address:

The Department of the Treasury
Office of the Treasurer
1500 Pennsylvania Avenue, NW
Room 2134
Washington, DC 20220
Fax: (202) 622-6464

Thu, 04/05/2012 - 14:45 | 2320072 slewie the pi-rat
slewie the pi-rat's picture

see note1

1.  weTheP

Thu, 04/05/2012 - 14:27 | 2320036 fonzannoon
fonzannoon's picture

They should start downgrading the miners

Thu, 04/05/2012 - 14:52 | 2320083 Al Huxley
Al Huxley's picture

They're already all rated 'Strong Sell' (gold miners).  Rationale being that they're currently doubling profits and sitting on large amount of cash, and, as this is too crazy to believe, the only logical conclusion is that it's an anomaly that can't last, so the best thing to do is 'sell now while the gettin's good', before they go to zero (along with gold, apparently).  Seriously, I was reading an article that was quoting analyst ratings for producing gold companies, and this was pretty much their 'logic'.

Thu, 04/05/2012 - 14:37 | 2320059 X. Kurt OSis
Thu, 04/05/2012 - 15:18 | 2320157 Piranhanoia
Piranhanoia's picture

Except that no one from an ivy league school is allowed to be included in the list. So after adding the ivy covered wallets;

"90% of the people on Wall Street are psychopaths."

Thu, 04/05/2012 - 14:38 | 2320060 junkyardjack
junkyardjack's picture

Unless its an Upgrade forward calendar

Thu, 04/05/2012 - 14:41 | 2320067 Tsar Pointless
Tsar Pointless's picture

Downgrades, shmowngrades.

Facebook has chosen the NASCRACK as its exchange when it goes public in May.

So, I am sorry folks, all news points to "Bullish" for this pointless Tsar.

Thu, 04/05/2012 - 14:49 | 2320078 dumpster
dumpster's picture

moodys a political football  and big bank lap dog

still need their marching orders ,,

 

Thu, 04/05/2012 - 14:50 | 2320081 gatorengineer
gatorengineer's picture

where are the US cranks I mean banks?

Thu, 04/05/2012 - 14:52 | 2320082 SheepDog-One
SheepDog-One's picture

Boy it sure is quiet around the market world today. 

Thu, 04/05/2012 - 14:59 | 2320096 Seize Mars
Seize Mars's picture

Tommy Corman?

Is that Kapa'a, or Kapa'a'a !?

Thu, 04/05/2012 - 22:26 | 2321179 Seize Mars
Seize Mars's picture

Nobody got that?

*sigh*

Thu, 04/05/2012 - 16:22 | 2320364 Vince Clortho
Vince Clortho's picture

Don't see anything on that list that rates better than a D- .

Thu, 04/05/2012 - 16:56 | 2320461 Great Depressio...
Great Depression Trader's picture

Global cyclical expansion continues, 2 to 4 yrs until the next down turn. NOMINAL GDP TARGETING kicks ass!!

Wed, 04/11/2012 - 15:53 | 2335695 CClarity
CClarity's picture

Only Banco Popular expected to hold onto its current rating.  Anyone else think that is bizarre?

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