Moody's Downgrades Italy From Aa2 To A2, Negative Outlook - Full Text Of Three Notch Downgrade

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Tue, 10/04/2011 - 16:35 | 1738820 wang (not verified)
Tue, 10/04/2011 - 16:37 | 1738840 Frog-And-Toad
Frog-And-Toad's picture

Remember that whole flash rally thing... How's that going to hold up tomorrow after Asia & Europe get stompped on tomorrow?

Tue, 10/04/2011 - 17:04 | 1738983 tekhneek
tekhneek's picture

"Dead cat bounce"

Tue, 10/04/2011 - 17:19 | 1739033 KenShabby
KenShabby's picture

That cat had springs on.

Tue, 10/04/2011 - 17:24 | 1739047 Frog-And-Toad
Frog-And-Toad's picture

That cat must be bouncing on a frictionless surface... This is unBEARable

Tue, 10/04/2011 - 19:38 | 1739525 CrankItTo11
CrankItTo11's picture

Flubber Cat

Wed, 10/05/2011 - 02:36 | 1740333 Harlequin001
Harlequin001's picture

'slinky springs'... remember them?

Wed, 10/05/2011 - 04:40 | 1740407 Snidley Whipsnae
Snidley Whipsnae's picture

Are the trains running on time? Thats the big deal in Italy... If the trains run on time all is well. If not, look for new leadership... Ill Douchbag 2...Save us!

 

Tue, 10/04/2011 - 17:33 | 1739093 Hansel
Hansel's picture

This was already priced in.  Do you think the market considered Italy Aa2?  /devil's advocate

Tue, 10/04/2011 - 21:16 | 1739763 Buck Johnson
Buck Johnson's picture

It won't, I was surprised it ended positive after leaving for work seeing that the Dow was -200 and then looking to see it ended positive 150.  This is desperation at it's finest.  The bank in Belgium which their where very very quiet rumors about came into being this week about needing another bailout and then a rumor of a good bank bad bank.  The whole system can't have any of these links go bust, because if it does it takes out all the rest and/or the rest will be everyone for themselves and a mad scramble to the exits.  And also to whatever assets they can steal and borrow.

Tue, 10/04/2011 - 16:38 | 1738821 GeneMarchbanks
GeneMarchbanks's picture

Now I see why we rallied! Makes sense. I swear, at this point what we need is a ZH hedgefund to go around and bring this bullshit to a stop. Tyler as manager.

Tue, 10/04/2011 - 16:49 | 1738862 traditionalfunds
traditionalfunds's picture

They often downgrade in waves. Wonder who is next.

& if the squeeze can hold.

 

 

Tue, 10/04/2011 - 16:35 | 1738823 CapitalistRock
CapitalistRock's picture

Doug Kass isn't going to like that.

Tue, 10/04/2011 - 16:39 | 1738867 rocker
rocker's picture

Doug Kass is a worthless asshole pimp for CNBC.  He said the lows were in for the year. Wrong.

Doug Kass said Japan's lows were in after the meltdown. Wrong.

Doug Kass said Gold was done going up when it was 1600 going on to 1900. Wrong Again.

Doug Kass is always wrong.  Cramer is his best friend. Guess it rubs off. Eh. 

Wed, 10/05/2011 - 04:42 | 1740409 Snidley Whipsnae
Snidley Whipsnae's picture

Rock on Rocker!

Tue, 10/04/2011 - 16:35 | 1738826 metastar
metastar's picture

Momma Mia!

Tue, 10/04/2011 - 16:36 | 1738835 Vincent Vega
Vincent Vega's picture

Can't the Europeans just start a "bad bank" and off load all of Italy's debt to it?

Tue, 10/04/2011 - 16:45 | 1738900 rocker
rocker's picture

We already have a "Bad Bank".

It is called  "The FED"

The FED already owns all the bad assets from American Banks and Foreign Banks alike.

Bernanke said, "I will not monetize"    What a joke. No Wonder there are Protest on Wall Street.

Tue, 10/04/2011 - 16:36 | 1738836 GenX Investor
GenX Investor's picture

It is just another hurdle to get over before the DOW hits 13,000

Tue, 10/04/2011 - 16:37 | 1738839 tekhneek
Tue, 10/04/2011 - 16:53 | 1738937 kaiserhoff
kaiserhoff's picture

Greek bonds and extended warranties!  How can I lose?

                                              Homer Simpson

Tue, 10/04/2011 - 16:37 | 1738842 joemayo
joemayo's picture

The shares crash, hopes are dashed.  People forget.

Tue, 10/04/2011 - 16:37 | 1738844 mayhem_korner
mayhem_korner's picture

 

 

Italy - toast.  Spain - toast.  France - toast.  UK - toast.  Who the hell's going to win the World Cup in '14?

Tue, 10/04/2011 - 16:38 | 1738854 GenX Investor
GenX Investor's picture

Don't know, but you made me hungry for breakfast.

Tue, 10/04/2011 - 16:39 | 1738868 Iriestx
Iriestx's picture

Vegemite is good on toast.

Tue, 10/04/2011 - 16:40 | 1738877 GeneMarchbanks
GeneMarchbanks's picture

Aussies prolly. Enjoy the vegemite you sick beast.

Tue, 10/04/2011 - 16:42 | 1738886 DutchTreat
DutchTreat's picture

The Dutch TeAAAm

Tue, 10/04/2011 - 16:55 | 1738944 Seasmoke
Seasmoke's picture

Netherlands

Tue, 10/04/2011 - 21:22 | 1739776 prains
prains's picture

New Zealand

Tue, 10/04/2011 - 16:38 | 1738849 scatterbrains
scatterbrains's picture

Good I hope we've shaken off the last of the weak ass bears today. Lets take this bitch back down again like a knife through butter.

Tue, 10/04/2011 - 16:39 | 1738866 GenX Investor
GenX Investor's picture

The weak bears are the ones you see talking on CNBC about what to do in the market.  They are more thinly capitalized than a Greek Bank.

Tue, 10/04/2011 - 16:38 | 1738852 youngandhealthy
youngandhealthy's picture

Who cares?

Tue, 10/04/2011 - 16:38 | 1738855 Edward Fiatski
Edward Fiatski's picture

And the dominoes are off... Enjoy European open tomorrow. U.S. 'investors' are dumb as fuck, I bet you anyone trading the DAX hasn't and will not hear of this FT story.

Tue, 10/04/2011 - 16:38 | 1738856 Finnykins
Finnykins's picture

Bullish spaghetti meat balls and crude comments right?

Tue, 10/04/2011 - 16:39 | 1738860 qussl3
qussl3's picture

Wow that was fun.

Tue, 10/04/2011 - 16:39 | 1738863 CapitalistRock
CapitalistRock's picture

Flash rip. We need an investigation to find out who is to blame.

Tue, 10/04/2011 - 16:41 | 1738880 GenX Investor
GenX Investor's picture

Tune into FAST MONEY in 20 minutes on CNBC to find out...

Tue, 10/04/2011 - 16:43 | 1738884 Pretorian
Pretorian's picture

This was timed exactly to short squeeze with reason. So we got good news then margin call then back where we were and no complains because we have excuse.Iluminati.

 

Wed, 10/05/2011 - 00:48 | 1740207 stacking12321
stacking12321's picture

hey, you can't say illuminati in a public forum.

fnord.

Tue, 10/04/2011 - 16:41 | 1738885 BlackSea
BlackSea's picture

Shouldn't they downgrade gold first? After all, it's not backed by anything...

Tue, 10/04/2011 - 16:43 | 1738889 Belarus
Belarus's picture

And the SEC with be immediately investigating this move for wait for it......S + P finally doing their jobs. What a racket this whole thing has become. At least the new CEO at S + P isn't afraid to do his job. He'll be gone though, in 3....2.....1....

Tue, 10/04/2011 - 16:45 | 1738901 Ruffcut
Ruffcut's picture

Fuck Moodys and their perpetual bullshit. A big group of useless cunts.

Tue, 10/04/2011 - 16:47 | 1738909 Edward Fiatski
Edward Fiatski's picture

Went long into close? :)))

Wed, 10/05/2011 - 02:42 | 1740338 Harlequin001
Harlequin001's picture

' A stitch in time gathers no moss!'

Tue, 10/04/2011 - 16:50 | 1738924 PicassoInActions
PicassoInActions's picture

Some1 has to explain in plain English how the rumor squeeze works.

So , let's say FT comes with a msg that some politicians are masturbating and suddenly all at once are reversing positions? Is the actions are coordinated? Some1 gives a command to reverse and all do the same? Is it like a web of viruses? That's the p[art i don't get it. I understand HFT are fucking every1 else but how does it coordinate with so many hedge funds and big investing houses in a matter of seconds? It has to be group thinking or some kind of mechanism to synchronize all that bs in a such a short time.

Am i missing something?

Tue, 10/04/2011 - 16:57 | 1738953 mayhem_korner
mayhem_korner's picture

So , let's say FT comes with a msg that some politicians are masturbating and suddenly all at once are reversing positions?

Thanks for that image...excuse me while I go wash my eyes out with Clorox...

Tue, 10/04/2011 - 17:30 | 1739072 tumblemore
tumblemore's picture

computer programs.

Wed, 10/05/2011 - 02:44 | 1740340 Harlequin001
Harlequin001's picture

Basically it's just a bullshit excuse for the FEd et al to hide the fact that they just interfered with the market...

Tue, 10/04/2011 - 16:50 | 1738925 faustian bargain
faustian bargain's picture

Golly, that only took them 4 months to complete.

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