Credit Agricole, Expectedly, Joins SocGen On The Moody's Downgrade Path

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Wed, 09/14/2011 - 01:34 | 1666583 PeterB
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This one makes it even better

Wed, 09/14/2011 - 01:27 | 1666586 JW n FL
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Investors urged to adopt a financial risk-based approach to environmental, social and governance factors
The financial crisis has led to a greater awareness of the need for a much broader analysis of corporate performance and risk that encompasses environmental, social and governance (ESG) factors, rather...

Here comes the Oil Money Pitch for the SAVE!! LOL!! Let the Evil Towel Heads hold the debt so that the circus continues on!! LOL

Wed, 09/14/2011 - 01:33 | 1666604 JW n FL
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Sharia / UCTIS (4) / 3 (a) Comp! BITCHEZ!!

Wed, 09/14/2011 - 01:29 | 1666594 EscapeKey
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... tomorrow, we'll see Credit Agricole upgrade Societe Generale, and vice versa. Oh, and they'll pledge collateral with the ECB hinging upon those two institutions remaining solvent.

Wed, 09/14/2011 - 01:35 | 1666607 PeterB
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Do I detect a touch of cynicism or are you just positive in general?

Wed, 09/14/2011 - 01:38 | 1666618 EscapeKey
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I guess technically it's gallows humour.

Wed, 09/14/2011 - 01:44 | 1666635 PeterB
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Thought just as much...carry on the good work

Wed, 09/14/2011 - 02:28 | 1666755 IQ 145
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No, unfortunately that's not possible. The great depression, or world wide credit smash-up, started with Creditanstalt Vienna; and not on the us stock market, and not with the british going off the gold standard; Everything played out like a pre-developed movie film after this major European re-financing center bank failed. This is not a subject which is good for my sense of humor. I suggest we all pray as follows; Oh, Mary, mother of insolvent bankers, don't let us down now in the hour of our need; we have sinned and we repent of our sins, but please God in the name of the Son and the Holy Ghost, most holy mother of God, do not let these banks fail." We should probably repeat this fifty times while fingering some beads. This probably won't work, but it's worth a try. It's not going to be funny if these major re-financing center banks start going oops!, we dropped the soap.

Wed, 09/14/2011 - 01:31 | 1666600 caerus
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Wed, 09/14/2011 - 01:37 | 1666613 Thomas Jefferson
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Shaping up to be a doomy Wednesday.  Excellent.

Wed, 09/14/2011 - 02:02 | 1666672 Spirit Of Truth
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Indeed.  There are the makings of a 2008-style liquidity crisis.

Now here's the uncanny part.

The 2008 financial crisis really kicked off with the Lehman bankruptcy which occurred with the Hunter full moon on September 15th that year:

The Hunter full moon this year occurred the day before yesterday.

Notably the 2008 crisis didn't take full form until we entered the "black" month of October.  I'm presuming a similar pattern could unfold this year:

Wed, 09/14/2011 - 02:15 | 1666707 caerus
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interesting post...was wondering what may happen monday after checking ephemeris...will keep up with your blog

Wed, 09/14/2011 - 06:56 | 1667744 JOYFUL
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"I am the Hunter";


A bumbling bloodhound who carried a card which read "Have Nose, Will Hunt", The Hunter worked for Officer Flim Flanagan. He was continually in pursuit of The Fox, a cunning con-man who once stole the Brooklyn Bridge. The Fox would eventually be nabbed by the end of the cartoon, in spite of The Hunter's bumbling.

As usual, the great minds working for slave wages at HannaBarbera and those other 50's sweat shops laid it all out for us kids to 'git' ....although 'Biggie Rat & Itchie Brother remain personal favorites, there's a dozen other examples of prescient forecasting (sponsored by General Mills & Kellogs) that shoulda, coulda, woulda told us how it was goin go down...

too bad that 'happy ending' rule was enforced by the paymaster in order to dull our sharp young senses! As we ALL know now,  "da Fox" is running the henhouse...

Wed, 09/14/2011 - 02:11 | 1666699 JoeSexPack
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Doomier the better. Correction, price discovery & bad debt liquidation.


Be still my beating heart, been hoping for years.



Wed, 09/14/2011 - 01:41 | 1666624 lolmao500
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How come they don't downgrade Swiss banks?

Wed, 09/14/2011 - 02:16 | 1666712 JoeSexPack
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Rumor has it they occupy a special safe zone, protected under Rothschild cabal & Vatican (Swiss Guards, etc).

Wed, 09/14/2011 - 02:35 | 1666767 IQ 145
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Heathen ! Apostate ! renegade ! Heretic ! You speak the unspeakable. Is nothing Sacred?

Wed, 09/14/2011 - 01:41 | 1666626 Yamaha
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Just looked outside and saw two black swans mating".............

Wed, 09/14/2011 - 02:00 | 1666669 chump666
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...I am tripping, just saw Apophis (look it up) f*cking the EZ

Wed, 09/14/2011 - 02:30 | 1666759 chump666
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as in Greek mythology (look it up)

Wed, 09/14/2011 - 01:56 | 1666663 T2
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More like a clusterflock...

Wed, 09/14/2011 - 02:21 | 1666727 The Shootist
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Pardon my ignorance, but how could the downgrade of these two french banks have a worse effect than when S & P downgraded the U.S.? I'm skeptical this week will be too bad, but we'll see.

I'm all for banks crashing and PM's blasting. Fingers crossed.

Wed, 09/14/2011 - 02:37 | 1666772 IQ 145
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The downgrade is alright; except it forces us to think about "bad things". If BNP actually goes, whoops; you'll be very pleased with  effects on your metals price. Or at least that's my opinion. Fear and loathing drive metals up.

Wed, 09/14/2011 - 09:12 | 1668028 ZeroPower
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Its all about the convenants. 

Wed, 09/14/2011 - 02:43 | 1666779 IQ 145
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As far as I know timing is completely impossible. This week we just get "conversation"; which is harmless enough. But the week when we get the anouncement that French Banks are temporarily closed to conduct a special review of the air-conditioning system; or whatever; and the actual situation becomes apparent I would supposed silver would double in one or two days.

Wed, 09/14/2011 - 03:07 | 1666861 pappyhlace
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make it rain...

Wed, 09/14/2011 - 05:43 | 1667662 LookingWithAmazement
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No Armageddon.

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