Intesa Sanpaolo Halted Twice On French Downgrade Rumor, Euro Drops

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Wed, 08/10/2011 - 08:49 | 1545712 the not so migh...
the not so mighty maximiza's picture

Down ya go!!!!!!

Wed, 08/10/2011 - 09:05 | 1545753 Snidley Whipsnae
Snidley Whipsnae's picture

Dow futures down 184...

Wed, 08/10/2011 - 09:08 | 1545769 SheepDog-One
SheepDog-One's picture

Whiplash! Someone call a lawyer! This ride should come with disclaimers and an insurance policy!

Wed, 08/10/2011 - 09:11 | 1545773 Snidley Whipsnae
Snidley Whipsnae's picture

For sure! Dow futures now down 202...

Wed, 08/10/2011 - 09:16 | 1545798 Sudden Debt
Sudden Debt's picture

Does a stockmarket crash if you put your head in the sand?


Wed, 08/10/2011 - 09:29 | 1545877 Fish Gone Bad
Fish Gone Bad's picture



Wed, 08/10/2011 - 10:43 | 1546283 A.W.E.S.O.M.-O 4000
A.W.E.S.O.M.-O 4000's picture

It does if you put your head up your ass

Wed, 08/10/2011 - 09:12 | 1545779 Sudden Debt
Sudden Debt's picture



a topic.... hmmm....

what about......



RIOTS SPREAD FROM ENGLAND TO THE REST OF THE EUROPEAN CONTINENT!! (lot's of discussions on facebook and twitter seem to point into that direction for the moment)


Wed, 08/10/2011 - 09:36 | 1545912 unky
unky's picture

Yeah, just like they spreaded from Spain into the rest of europe a few month ago ? I dont think so,  it needs more than that,  hyperinflation or so

Wed, 08/10/2011 - 08:51 | 1545720 Quintus
Quintus's picture

There must be something in the rumour.  Sarkozy has jetted back to Paris and is dashing about re-assuring everyone that their fiscal plans will be in place to keep the AAA rating.

He wouldn't cut short his holiday if there wasn't a credible threat.

Wed, 08/10/2011 - 08:53 | 1545725 Sudden Debt
Sudden Debt's picture

he forgot to take his high heels slippers to walk on the beach....


Wed, 08/10/2011 - 10:44 | 1546291 A.W.E.S.O.M.-O 4000
A.W.E.S.O.M.-O 4000's picture

Yo Snap! No, wait. "Sacré Le Snap!"

Wed, 08/10/2011 - 08:51 | 1545721 Cdad
Cdad's picture

Would love to short the Euro...but the perpetual interventions there by China make it damn near impossible to enter the trade well.

I suppose the best way to see the trade is to take it longer term.  Just as gold will finally go parabolic when the end comes, so too would a short euro trade finally be a home run.  It seems like shorting the euro is ONLY an end of the world trade.

Wed, 08/10/2011 - 09:13 | 1545783 slaughterer
slaughterer's picture

Short the Euro against the Canadian dollar. 

Wed, 08/10/2011 - 08:52 | 1545722 Sudden Debt
Sudden Debt's picture




Wed, 08/10/2011 - 09:23 | 1545841 Ethics Gradient
Ethics Gradient's picture

I though you Belgians and the French loved each other. No, no, sorry, I'm mistaken. I was thinking of the Belgians and the Belgians, no, oh, that doesn't work either.

As a nation, you lot don't really get on with anyone. Have some patience, though. Given current demographic trends, in 2018 Brussels could vote to twin with Mecca.

Wed, 08/10/2011 - 09:28 | 1545875 Paralympic Equity
Paralympic Equity's picture

Nice wankel piston you got there

Wed, 08/10/2011 - 09:51 | 1545987 Sudden Debt
Sudden Debt's picture


There's me, myself and of course I!

Wed, 08/10/2011 - 08:53 | 1545723 Catullus
Catullus's picture

What I love most about yesterday's stick save rally is how much volume was churned through at the highs. Fresh meat.

Anyway, Germans, are you reading this? You can now bail out the Frenchies now too. Throwing good money after bad. Does that translate into German?

Wed, 08/10/2011 - 08:55 | 1545726 Stumpy
Stumpy's picture

Don't know if you're a gamer, but "fresh meat" is the scariest thing I've heard in a game.

Wed, 08/10/2011 - 08:56 | 1545729 John Law Lives
John Law Lives's picture

<<<  hrowing good money after bad. Does that translate into German?  >>>


Werfen Sie gutes Geld schlechtem Geld.

Wed, 08/10/2011 - 09:08 | 1545767 Sudden Debt
Sudden Debt's picture
Gehen von der Mark zum Euro
Wed, 08/10/2011 - 09:15 | 1545794 NoClueSneaker
NoClueSneaker's picture

Eher stolpern :-P


DM 2.0 oder RMB sofort ?

Wed, 08/10/2011 - 09:21 | 1545829 Sudden Debt
Sudden Debt's picture
die Mark geht sicher zurück. Jeder Europäer wünscht ihren alte Währung zurück
Wed, 08/10/2011 - 09:16 | 1545799 cossack55
cossack55's picture

Freakin' funny, SD.



Wed, 08/10/2011 - 08:58 | 1545734 unky
unky's picture

does it even matter? in the end nobody will/can pay this. i feel good this finally all comes to an end and PM prices go ballisic

Wed, 08/10/2011 - 08:59 | 1545738 bigdumbnugly
bigdumbnugly's picture

fade outdoor bistro's?

Wed, 08/10/2011 - 09:00 | 1545740 Mr.Kowalski
Mr.Kowalski's picture

If for some reason the French are not able to kick in their share of the EFSF, EUtopia would be in some serious trouble. Germany would do what it could, but it would not be enough to save the Euro currency.

Wed, 08/10/2011 - 09:06 | 1545758 unky
unky's picture

you underestimate germany ;- )

Wed, 08/10/2011 - 09:17 | 1545808 cossack55
cossack55's picture

The French have a history of that.

Wed, 08/10/2011 - 09:03 | 1545745 joshua10
joshua10's picture

And Down Goes Frazier.

Wed, 08/10/2011 - 09:02 | 1545746 HAL 9000
HAL 9000's picture

Yes. It's puzzling. I don't think I've ever seen anything quite like this before. I would recommend that we put the unit back in operation and let it fail. It should then be a simple matter to track down the cause. We can certainly afford to be out of communication for the short time it will take to replace it.

Wed, 08/10/2011 - 09:03 | 1545748 joshua10
joshua10's picture


Wed, 08/10/2011 - 09:04 | 1545749 Paralympic Equity
Paralympic Equity's picture

Now denied by Warren Woody's which affirmed its AAA rating, outlook stable...

Wed, 08/10/2011 - 09:06 | 1545756 SheepDog-One
SheepDog-One's picture

Hell with it just halt the world! 

Wed, 08/10/2011 - 09:11 | 1545775 disabledvet
disabledvet's picture

That was quick. I thought waterfall sparkles was going to chime in and save the day. Where is our Waterfall Sparkles btw? Perhaps a little futures pixie dust is in order?

Wed, 08/10/2011 - 09:13 | 1545785 SheepDog-One
SheepDog-One's picture

Bernankes with his herd of pink unicorns filling bags with tasty Skittles that they shit piles of. HFT traders gotta eat ya know.

Wed, 08/10/2011 - 09:12 | 1545778 americanspirit
americanspirit's picture

Downgrade a great nation like France? Heck, you might as well downgrade the USA. Oh...

Wed, 08/10/2011 - 09:13 | 1545787 Sudden Debt
Sudden Debt's picture

Better put a bottle of red wine in the microwave and put some cheese in the freezer because the party will soon start!


Wed, 08/10/2011 - 09:55 | 1546012 goldfish1
goldfish1's picture

viva la france aaa

Wed, 08/10/2011 - 09:13 | 1545781 Paralympic Equity
Paralympic Equity's picture

Now Fitch also affirmed AAA, outlook stable...

Wed, 08/10/2011 - 09:13 | 1545782 Snidley Whipsnae
Snidley Whipsnae's picture

One day will be witness to THE EVENT that sends this entire world financial system into the abyss...

Maybe that is why we continue to watch?

Wed, 08/10/2011 - 09:14 | 1545788 Franken_Stein
Franken_Stein's picture


Oh my God !

We are all gonna die !




Reggie currently at +1100 %


Wed, 08/10/2011 - 09:16 | 1545801 SheepDog-One
SheepDog-One's picture

We was all gonna die in the first place...may as well go out with a bang and a party! The trick is figuring out what you can do that will cause others later to make a statue of you. Hmmmm.

Wed, 08/10/2011 - 09:15 | 1545793 slaughterer
slaughterer's picture

S&P has no intention of downgrading France.  This rumor is noise.  Read the article on it today in the ZH docket. 

Wed, 08/10/2011 - 09:16 | 1545803 RobotTrader
RobotTrader's picture

5-yr. yield now .91%

Why not downgrade Uncle Gorilla to AA- and watch the 5-yr. go to .51%???

Wed, 08/10/2011 - 09:18 | 1545810 Bahamas
Bahamas's picture

Banca intesa is a recent creation that includes Cariplo+Banco Ambrosiano Veneto+Banca Commerciale Italiana+Banco di Napoli+Istituto Bancario San Paolo di Torino+Cassa di Risparmio di Firenze+other minor banks from south and central Italy.

It 's a big conglomerate still full of plenty old school workers and old time garbage.  The joke on Banca Commerciale Italiana was: they hire 3 people just for the mailing service, 1 to put it in the envelop, 1 to lick it and one to stamp it.  And that's a bank from can only imagine Banco di Napoli what holds in its belly. Not to mention Banco Ambrosiano, born from the still hot ashes of Calvi Banco Ambrosiano.

Wed, 08/10/2011 - 09:22 | 1545837 Paralympic Equity
Paralympic Equity's picture

SocGen now down 11,5%...that is worth something right?

Wed, 08/10/2011 - 09:24 | 1545849 Miss Expectations
Miss Expectations's picture

Here's an "In the Mood" video repleat with tail spin:

Wed, 08/10/2011 - 09:26 | 1545861 OpenEyes
OpenEyes's picture

futures down 248... fire up the Teleprompter?

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