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Moody's Hammer To Fall At 4 PM

Tyler Durden's picture


From Bloomberg citing CNBC, which apparently is where Moody's leaked all its data


So... this leaves Morgan Stanley with the dreaded 3 notch cut which automatically springs up to $9.6 billion margin calls and memories of AIG? Assume crash positions.

Oh, and for our Canadian friends:


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Thu, 06/21/2012 - 15:32 | 2548357 Temporalist
Temporalist's picture

Airlines tell you to put your head between your legs because it snaps your neck faster upon impact.

Thu, 06/21/2012 - 15:33 | 2548363 camaro68ss
camaro68ss's picture

S meets Fan.

Fuck you MS!

Thu, 06/21/2012 - 15:36 | 2548388 SHEEPFUKKER

Awesome leak.  Surely there were no SEC violations here. Wait, what's the SEC? My bad. 

Thu, 06/21/2012 - 15:46 | 2548438 FlyoverCountryS...
FlyoverCountrySchmuck's picture

Sure explains the huge sell-off in Gold today, doesn't it.

Somebody has to cover some pretty huge margins, it seems.

Thu, 06/21/2012 - 15:52 | 2548459 ZerOhead
ZerOhead's picture

In February Moody's said U.S. bank Morgan Stanley and Swiss banks UBS (UBSN.VX) and Credit Suisse (CSGN.VX) could be cut by up to three notches.

There could be cuts of two notches for Barclays (BARC.L), BNP Paribas (BNPP.PA), Citigroup (C.N), Credit Agricole (CAGR.PA), Deutsche Bank (DBKGn.DE), Goldman Sachs (GS.N), HSBC Holdings (HSBA.L), J.P.Morgan (JPM.N) and Royal Bank of Canada (RY.TO).

Moody's has said there could be one notch downgrades for Bank of America (BAC.N), Royal Bank of Scotland (RBS.L) and Societe Generale (SOGN.PA).

Thu, 06/21/2012 - 15:54 | 2548478 MonsterBox
MonsterBox's picture

Why are these "rating agencies" allowed to do this?  Isn't there some kind of Executive Order prohibiting sheeple panic and bank runs?

Drilling on GS, BoA, JPM, foreign countries banksters... Seriously....Moody's et al are lucky to still be breathing....

Thu, 06/21/2012 - 15:56 | 2548486 El Viejo
El Viejo's picture

Correct me if I'm wrong, but institutional investors will have to respond in some cases. No??

Thu, 06/21/2012 - 15:58 | 2548503 HoofHearted
HoofHearted's picture

couldn't happen to more deserving, banks...

Thu, 06/21/2012 - 16:02 | 2548527 Dr. Richard Head
Dr. Richard Head's picture

Cash on hand?  Check

Silver/Gold on hand?  Check

Depends?  Check


Thu, 06/21/2012 - 16:04 | 2548536 Oro
Oro's picture


Thu, 06/21/2012 - 17:26 | 2548838 Alea Iactaest
Alea Iactaest's picture

Haters gonna hate: MS up 54c AH right now...

Thu, 06/21/2012 - 23:33 | 2549800 TruthInSunshine
TruthInSunshine's picture

Temporalist said:


Airlines tell you to put your head between your legs because it snaps your neck faster upon impact.



Tyler Durden:  [pointing at an emergency instruction manual on a plane] You know why they put oxygen masks on planes?

Narrator:    So you can breath.

Tyler Durden:    Oxygen gets you high. In a catastrophic emergency, you're taking giant panicked breaths. Suddenly you become euphoric, docile. You accept your fate. It's all right here. Emergency water landing - 600 miles an hour. Blank faces, calm as Hindu cows.

Thu, 06/21/2012 - 15:59 | 2548497 ZerOhead
ZerOhead's picture

Business must be slow for them... and I guess some of the aforementioned banks didn't want to get shaken down and refused to pay up.

Now we get to find out which ones... can't say they weren't warned...

Thu, 06/21/2012 - 16:05 | 2548543 Dr. Richard Head
Dr. Richard Head's picture

And the sheep with deposits at these banks still stay with these banks, oblivious to the liability side of the ledger far outweighing the asset side.  You think those folks would have listened to the warnings.  Kind of hard to hear the warnings over Miley Cyrus' ass checks hanging out I guess.

Thu, 06/21/2012 - 16:31 | 2548664 NotApplicable
NotApplicable's picture

You mean I shouldn't have skipped that "news" story?

Oh... well, fine then!

Thu, 06/21/2012 - 16:58 | 2548770 catacl1sm
catacl1sm's picture

Nice find.

Thu, 06/21/2012 - 16:12 | 2548576 MarsInScorpio
MarsInScorpio's picture

Sell that gold! Drop that price! I'll buy - I'll buy!!


Thu, 06/21/2012 - 15:46 | 2548441 knukles
knukles's picture

And they (along with S&P, et al) haven't even yet begun to fuck over the EU/EBC.

What an opportunity to set the ratings process "right"
The Europeans just cut off thier own dicks.

Gonna need lots of popcorn, honey.

Thu, 06/21/2012 - 15:51 | 2548462 GCT
GCT's picture

I was thinking the same thing knuckles when the euro politicians are now going to rate their own bonds. 

Thu, 06/21/2012 - 15:59 | 2548508 jus_lite_reading
jus_lite_reading's picture

The world is ONE catastrophe from total economic meltdown and no amount of printing will stop it...

Margin calls on the nines!!! 

Thu, 06/21/2012 - 15:51 | 2548463 ugmug
ugmug's picture

Unless porn sites report financial news then the SEC employees will never know what's happening from day to day. 

Thu, 06/21/2012 - 16:07 | 2548553 Dr. Richard Head
Dr. Richard Head's picture

I would bet the google trends of search terms originating from the SEC would be dealing with Octomom and the sort.

Thu, 06/21/2012 - 16:11 | 2548574 brooklynlou
brooklynlou's picture

Octomom ... Bullish!

Thu, 06/21/2012 - 17:01 | 2548784 dark pools of soros
Thu, 06/21/2012 - 16:05 | 2548532 Troll Magnet
Troll Magnet's picture

Surely there were no SEC violations here. Wait, what's the SEC? My bad. 

It's the South Eastern Conference, you dummy!  Come.On!  Don't you watch TV?

Thu, 06/21/2012 - 15:39 | 2548403 veyron
veyron's picture

so MS = Mega $hit?

Thu, 06/21/2012 - 15:41 | 2548417 Divided States ...
Divided States of America's picture

Canadian Bank?? Nice...Must be CIBC or Bank of Montreal

Thu, 06/21/2012 - 15:45 | 2548435 TruthInSunshine
TruthInSunshine's picture

Bernanke hasn't delivered more Krugmanrands (i.e. massive amounts of new, additional debt-derived fiat, to be deposited into the TBTF, wards of the taxpayers banks & Wall Street), yet, so the TBTF taxpayer teat-sucking parastic drain financial players have  rigged this to tank in a big way so they can prime the pump again.

It's 2008's, Hank Paulson's "tanks in the streets & martial law if Congress doesn't give me a blank check and The Bernank a green light, bitchez," redux, deja vu, v2.0.

In other words, they're going to throw a big, loud tantrum, tanking 401(k)s, until they get what they want.



Thu, 06/21/2012 - 15:49 | 2548454 Plymster
Plymster's picture

I guess we get to find out if Jamie Dimon was correct about a TBTF bank being able to fail...

Thu, 06/21/2012 - 15:55 | 2548475 GCT
GCT's picture

Truth I may be wrong on this but the only reason the Fed is not doing QE right now is because of the elections.  If the fed starts QE too early commodities will be sky high during the election period.  Look for it in September or October.  This administration can then get on the MSM and speak about how he save the USA and bam he is reelected.

Timing is everything to politicians.

Thu, 06/21/2012 - 15:51 | 2548465 canadiandollar
canadiandollar's picture

but.....but... i was told our banks were "the best in the world"? you mean i was lied to????? (sarc)

i believe CIBC was one of the banks here that was the largest holder of ABCP (or at least the most leveraged). i would guess that is the bank in the crosshairs.

Thu, 06/21/2012 - 16:02 | 2548526 ZerOhead
ZerOhead's picture


Thu, 06/21/2012 - 15:45 | 2548437 Plymster
Plymster's picture

So rather than say, "Shit meets Fan", you choose to go with the more PC, "S meets Fan".

Then you say "Fuck you MS!".

Crap-boobs-crap!  You give cursing a bad name!  ;-P

Thu, 06/21/2012 - 15:54 | 2548479 camaro68ss
camaro68ss's picture

yeah i dont know what i was thinking. lol

Thu, 06/21/2012 - 15:54 | 2548477 American34
American34's picture

Margin calls should be renamed Euro Calls!

Thu, 06/21/2012 - 15:56 | 2548489 beaker
beaker's picture

Notice how the big gold hit days come when one of these banks have collateral calls?  Last time was when the JPM trade was first in the news.

Thu, 06/21/2012 - 16:09 | 2548566 Dr. Richard Head
Dr. Richard Head's picture

Naked shorting I am sure.  I can't imagine these banks actually have any assets to speak of. 

Negative Reserve Banking is gonna getcha.

Thu, 06/21/2012 - 16:41 | 2548709 Silver Bug
Silver Bug's picture

90% of the banks out there should be junk status. If not higher.

Thu, 06/21/2012 - 17:07 | 2548797 vast-dom
vast-dom's picture

Shit splatters fan! Blades and shit go flying!

Thu, 06/21/2012 - 15:35 | 2548387 battle axe
battle axe's picture

I guess Gorman from Morgan Stanley, didn't blow Moody's good enough. 

Thu, 06/21/2012 - 15:49 | 2548455 Everybodys All ...
Everybodys All American's picture

Paging Warren Buffet.

Thu, 06/21/2012 - 15:51 | 2548464 SHEEPFUKKER

Another 5 billion dollar rubber ducky bathtub deal?

Thu, 06/21/2012 - 16:59 | 2548777 johngaltfla
johngaltfla's picture

Maria B is pissed off. She must have turned old Warren Buffett down for a quickie in the elevator. She really wanted to cover this downgrade herself and not let the lose your money fast clowns do it.

Thu, 06/21/2012 - 15:33 | 2548358 SilverTree
SilverTree's picture

Drum-roll please!

Thu, 06/21/2012 - 15:32 | 2548359 EscapeKey
EscapeKey's picture

All priced in already. Unless they are only downgraded 1 notch, then it's hugely bullish.

Thu, 06/21/2012 - 15:41 | 2548380 AccreditedEYE
AccreditedEYE's picture

You sound just like Peter Tchir... 

Thu, 06/21/2012 - 15:33 | 2548364 BurgundianRon
BurgundianRon's picture

PPT must've asked 'em to hold until after the bell.

Thu, 06/21/2012 - 15:35 | 2548385 Monkeyfister
Monkeyfister's picture

Yeah-- wouldn't want the Markets to flush entirely down the toilet today. Best to leave some for the second flush tomorrow morning.


Thu, 06/21/2012 - 15:43 | 2548423 Marginal Call
Marginal Call's picture

Tomorrow is the ramp up on new QE rumors. 

Thu, 06/21/2012 - 15:47 | 2548445 Dr. Engali
Dr. Engali's picture

This is just a courtesy flush. The big one is coming.

Thu, 06/21/2012 - 16:17 | 2548600 TonyCoitus
TonyCoitus's picture

LOL! Fucking hilarious. Huge belly roll!

Thu, 06/21/2012 - 16:19 | 2548610 spankfish
spankfish's picture

"courtesy flush"... glad to see someone here had proper toilet training.

Thu, 06/21/2012 - 16:40 | 2548704 Monkeyfister
Monkeyfister's picture

Heh... yep.

Futures continuing their slide. I'm going to need to pop a LOT of popcorn, tomorrow.

Thu, 06/21/2012 - 16:50 | 2548744 BeetleBailey
BeetleBailey's picture

I am quite fond of going into any bank and taking a wicked one in their public toilet - then NOT flushing!

Thu, 06/21/2012 - 15:43 | 2548425 duo
duo's picture

Except those trading PMs, who seem to have heard about this around 9:45 AM EDT.

Thu, 06/21/2012 - 15:34 | 2548368 Conman
Conman's picture

3:30 ppt where are yoouuuuuu ..echo. echo..

Thu, 06/21/2012 - 15:37 | 2548391 Comay Mierda
Comay Mierda's picture

got the afternoon off.  they are coming in later tonight to ramp the fuck out of futures though

Thu, 06/21/2012 - 15:56 | 2548481 Sudden Debt
Sudden Debt's picture

Damned new computer systems...
They don't even have the Divx codexes to play the downloaded porn on...

Thu, 06/21/2012 - 15:34 | 2548369 slaughterer
slaughterer's picture

Time to line up the last shorts of MS at $14.00  Quick, before I get them all. 

Thu, 06/21/2012 - 15:59 | 2548507 Alea Iactaest
Alea Iactaest's picture

Priced in. Maybe buy some Jul or Aug puts if you feel the need to gamble a little.

Thu, 06/21/2012 - 15:34 | 2548370 And Its Gone
And Its Gone's picture

Snooze.   Wake me up when the dow is below 8k.....


Thu, 06/21/2012 - 15:34 | 2548371 Cognitive Dissonance
Cognitive Dissonance's picture

"Assume crash positions."

Can I kiss my honey money goodbye first?

Thu, 06/21/2012 - 15:42 | 2548418 cossack55
cossack55's picture

There has not been any "money" for at least 50 years.  You may, of course, kiss your fiat goodbye.

Thu, 06/21/2012 - 15:38 | 2548372 Jlmadyson
Jlmadyson's picture

Live to see another day MS. 1 notch; man oh man so lucky today.

Oh that is for BOA. 3 notch still on the table for MS then? Still say no more than 2.

Thu, 06/21/2012 - 15:45 | 2548436 bdc63
bdc63's picture

I agree. 2

Thu, 06/21/2012 - 15:35 | 2548373 centerline
centerline's picture

Damn.  I was going in the direction of beer googles per a previous post.  Now it's crash helmets.  Man.  I can't keep up anymore.

Thu, 06/21/2012 - 16:11 | 2548573 Dr. Richard Head
Dr. Richard Head's picture

I'm thinking a crash helmet with beer holders and straws attached might be appropriate now.

Thu, 06/21/2012 - 15:34 | 2548374 BlueStreet
BlueStreet's picture


Thu, 06/21/2012 - 15:35 | 2548376 CommunityStandard
CommunityStandard's picture

Hoping for some major Margin Stanley fallout.  Hopefully it's not been priced in......   too much hoping, I think.  The market likes to toy with my emotions.

Thu, 06/21/2012 - 15:35 | 2548379 Boilermaker
Boilermaker's picture

Why would this mean anything in this artificial environment?

I won't be surprised at all to see the SPX gunned back up 30 handles tomorrow.

Thu, 06/21/2012 - 15:41 | 2548416 HelluvaEngineer
HelluvaEngineer's picture

I think you mean before breakfast.

Thu, 06/21/2012 - 15:44 | 2548431 acompletedouche
acompletedouche's picture

Rumors should be good for at least 60 handles straight up in the overnight session,easy money for "Da boys"...

Thu, 06/21/2012 - 15:35 | 2548382 Village Smithy
Village Smithy's picture

Mark Zandi wrote it in the bottom of the Starbucks latte he brought in just for his friend Stevie Liesman.

Thu, 06/21/2012 - 15:35 | 2548383 pods
pods's picture

So have the oxygen masks fallen out of the ceiling at MS?  Or have they just unplugged the phones?


Thu, 06/21/2012 - 15:44 | 2548426 Temporalist
Temporalist's picture

"Oxygen" masks just muffle the screams.  If I owned an airline I'd use NOX.

Thu, 06/21/2012 - 15:35 | 2548384 FranSix
FranSix's picture

Quantitiave easing is workit.  Is workit real good.  When do they upgrade gold?

Thu, 06/21/2012 - 16:02 | 2548524 El Viejo
El Viejo's picture

When only banks and govts and institutions are allowed to own it.

Thu, 06/21/2012 - 15:37 | 2548393 brockhardman
brockhardman's picture

And when Jamie Dimon returns home for the evening, he will also cut 2 notches into his bedpost (he likes to keep track of how many times he screws his muppets). 

Thu, 06/21/2012 - 15:37 | 2548395 vote_libertaria...
vote_libertarian_party's picture



How could this be?


They all passed multiple stress tests.


New Federal rule.  Downgrades are a sign of STRENGTH!!!

Thu, 06/21/2012 - 16:37 | 2548689 No Euros please...
No Euros please we're British's picture

Right on, we're playing European rules now. Long on banks and sovereign bonds.

Thu, 06/21/2012 - 15:38 | 2548398 Vincent Vega
Vincent Vega's picture

Headline on Bloomie earlier today: Moody's Said to Be Poised to Announce Bank Downgrades Today.  From the article: Moody's Investor Service has told banks it may later today announce downgrades of the credit ratings of as many as 17 lenders and securities firms with global capital market operations, according to two people with knowledge of the plans.  The announcement may come after the close of trading in New York today, said one of the people, who asked not to be identified because the information is private. "as policy we don't comment on the timing of potential future rating actions" Abbas Qasim a NY based spokesman for Moody's said in a phone interview.

Thu, 06/21/2012 - 15:39 | 2548399 PartysOver
PartysOver's picture

Go Long Guns, Ammo and Gold.   The GAG philosophy.

Oh, and copper.  Got make the fermenting gear.  Its # 4 on the priority list.


Thu, 06/21/2012 - 15:39 | 2548401 mayhem_korner
mayhem_korner's picture



So did the margin call liquidations take place during today's trading hours, before the downgrades?  Inquiring minds want to know...

Thu, 06/21/2012 - 15:39 | 2548402 TrainWreck1
TrainWreck1's picture

Fock! Not the First Ottawa Bank of Igloos!

Damn, eh?


Thu, 06/21/2012 - 15:58 | 2548500 canadiandollar
canadiandollar's picture

its the only place keeps my loony fresh.

Thu, 06/21/2012 - 16:00 | 2548512 FranSix
FranSix's picture

Know your history.  The first bank was Molson's bank.

Thu, 06/21/2012 - 15:39 | 2548405 Boilermaker
Boilermaker's picture

Crash position is the position you prefer your dead body to be found in!

Thu, 06/21/2012 - 15:57 | 2548494 catacl1sm
catacl1sm's picture

certainly not with my head between my legs. People might get the wrong idea.

Thu, 06/21/2012 - 16:18 | 2548605 knukles
knukles's picture


Can you see the by-line on the obit?

Thu, 06/21/2012 - 15:40 | 2548406 nomorebuyins
nomorebuyins's picture

Keeping with the bad news is good news mood, this seems like this could turn positive by 8am and turn into another face ripping rally.

Thu, 06/21/2012 - 15:45 | 2548434 And Its Gone
And Its Gone's picture

Bad news = easing = good news. 

Just pass a ammendment to the constitution that the dow isn't allowed to go down and all ecconomic trouble is over...

Thu, 06/21/2012 - 15:40 | 2548410 Seasmoke
Seasmoke's picture


Thu, 06/21/2012 - 15:40 | 2548411 Jlmadyson
Jlmadyson's picture

There is just no way MS could survive on $10 billion margin call.

Thu, 06/21/2012 - 15:47 | 2548446 JohnG
JohnG's picture

Bring out the file boxes.

Thu, 06/21/2012 - 15:53 | 2548473 Shitters_Full
Shitters_Full's picture

And shredders.

Thu, 06/21/2012 - 15:53 | 2548472 V in PA
V in PA's picture

Sure they can. Same way AIG did. With the gift of stolen money.

Thu, 06/21/2012 - 15:42 | 2548415 caimen garou
caimen garou's picture

I guess rating agency's are going to get down graded next by the dictator of the US before the markets open tomarrow

Thu, 06/21/2012 - 15:42 | 2548420 fonzannoon
fonzannoon's picture

no fn way they cut ms 3 notches. no way.

Thu, 06/21/2012 - 15:42 | 2548421 casino capitalism
casino capitalism's picture

Time for the banks to take over their own ratings.  Who knew - the biggest threat to the rating agency business model is that the debtors will do their own ratings.

Thu, 06/21/2012 - 15:42 | 2548422 Arnold Ziffel
Arnold Ziffel's picture


But that's when Happy Hour begins!

Thu, 06/21/2012 - 15:51 | 2548467 BlueStreet
BlueStreet's picture

Shorts have been experiencing it all day, YIPPY!



Thu, 06/21/2012 - 16:01 | 2548519 Sudden Debt
Sudden Debt's picture

Luckely, over here, happy hour is only on a friday!

Thu, 06/21/2012 - 15:44 | 2548432 Splootch
Splootch's picture

cool...they are going to upgrade 1 canadian bank

Thu, 06/21/2012 - 15:45 | 2548433 the not so migh...
the not so mighty maximiza's picture

Hows that making up your own ratings going?

Thu, 06/21/2012 - 15:46 | 2548440 Jim in MN
Thu, 06/21/2012 - 15:58 | 2548442 Gringo Viejo
Gringo Viejo's picture

Further, by my back of the envelope calculations, when and if the dollar hits 90, paper gold will be worth $1 and ounce and you'll have to pay people to take silver off your hands.

Thu, 06/21/2012 - 15:47 | 2548443 carbonmutant
carbonmutant's picture

Decline in the Morning tapering off to a midday rally...

Thu, 06/21/2012 - 15:48 | 2548450 LouisDega
Thu, 06/21/2012 - 15:50 | 2548457 Jlmadyson
Jlmadyson's picture

Also interesting they are going with a Thursday dump unlike the S&P Friday dumps

Thu, 06/21/2012 - 15:56 | 2548485 Conman
Conman's picture

summertime - fatboys taking 3 day weekend in montauk

Thu, 06/21/2012 - 15:55 | 2548482 canadiandollar
canadiandollar's picture

just glad i have my silver beside me and food in the cupboard. when a bankrupt country borrows at twice the rate at which it lends money to another broke country, i really can say i have lost all faith in the ability of even everyday human beings to be rational and sane. bring on the end, im tired of waiting.

Thu, 06/21/2012 - 16:31 | 2548660 web bot
web bot's picture

I've lost count... swap lines, QEx, 2Billion per day deficit, unfunded liabilities, the list goes on...

The world is totally and completely #ucked. If anyone things otherwise, then you are totally and completely #ucked. Ten years ago, derivatives didn't even exist... they now total $600,000,000,000,000 ($600 trillion).

I went to a Canadian bank today and as of August 1st, they reserve the right to take up to 4 days+, depending on your transaction, to provide you with your funds for cheques and "other instruments". Soros is right... the Euro ends within 3 months and we'll be seeing runs on the banks. While Canadian banks have always had the right to withhold funds for a period of time, the fact that they have this nice brochure tells me they are preparing for something. They know something is coming and that the cascade effect from Europe will hit North America like a tsunami.

We are witnessing the decline of what was once a great empire and the world as we know it.


Thu, 06/21/2012 - 15:56 | 2548484 cliffynator
cliffynator's picture

After "Drop the Hammer" is "Cock the Hammer":


Thu, 06/21/2012 - 16:26 | 2548633 Umh
Umh's picture


Thu, 06/21/2012 - 16:39 | 2548695 cliffynator
cliffynator's picture

It's a veiled suggestion that people may be violently upset at the pending downgrades.

..And it's a pretty darn good song!

Thu, 06/21/2012 - 16:04 | 2548539 zebra
zebra's picture

it's not a crash, just a little turbulance

Thu, 06/21/2012 - 15:59 | 2548499 Sudden Debt
Sudden Debt's picture

THANK GOD!! My puts where killing me!
And I'm shorting the full deck of cards here! Life is good!

Thu, 06/21/2012 - 15:58 | 2548501 zebra
zebra's picture

SP500 to ZH: mock me!

Thu, 06/21/2012 - 15:58 | 2548502 BurningFuld
BurningFuld's picture


Thu, 06/21/2012 - 15:59 | 2548505 HD
Thu, 06/21/2012 - 16:07 | 2548554 slewie the pi-rat
slewie the pi-rat's picture

  <--< so what?

   <--< so fuking what?

we got risk0ff (act surprised among yerselves) and the goldilocksCrisisTM is part of timmah & cuckooChanel's plan which is being euro-summited to angela (and the german high courts) in its present form by marioECB while the new greek goobermint gives her a hot-foot

Thu, 06/21/2012 - 16:14 | 2548588 knukles
knukles's picture

The more things stay the same, the more they don't change.

Thu, 06/21/2012 - 16:09 | 2548563 canadiandollar
canadiandollar's picture

according to CNBS, RBC is the canuck bank on the list. wonder if i should just cash my paycheque instead of stashing it.

Thu, 06/21/2012 - 16:18 | 2548579 FieldingMellish
FieldingMellish's picture

Baked in today's hammering?



Thu, 06/21/2012 - 16:19 | 2548609 Marginal Call
Marginal Call's picture

Not even close.  We're just getting down to where we were before the QE hopium.  Magin Stanley goes down, that will be an avalanch. 

Thu, 06/21/2012 - 16:19 | 2548606 20-20 Hindsight
20-20 Hindsight's picture

Let's see what happens tomorrow before we can all scream: "Halleluiah!"  We all know how hard it is to kill the beast...

Thu, 06/21/2012 - 16:25 | 2548625 SimpleSimon
SimpleSimon's picture

Option 1 - The banks ban rating agencies and decided to rate themselves.

Option 2 - Obama and Bernanke get on the phone with Moody's to have a friendly chat about how rating agencies are faring in Europe, Egan Jones is fairing in the US and the missing period after one of the sentences on their rating agency application forms.


Moody issues an upgrade call.

Its so simple to fix unpleasant situations.

Thu, 06/21/2012 - 16:38 | 2548693 sudzee
sudzee's picture

Ratings cuts will be delayed until after the close of makets on Friday. Moody's, due to a breakdown in communications, was not able twit info to all of its wall street buddies.

Thu, 06/21/2012 - 16:39 | 2548694 FieldingMellish
FieldingMellish's picture

Egyptian electoral commitees give quicker results than this... and probably more honest too.

Thu, 06/21/2012 - 16:48 | 2548738 DavosSherman
DavosSherman's picture

Jamies dick got even shorter.  Negative mm's

Thu, 06/21/2012 - 16:49 | 2548742 FranSix
FranSix's picture

Moody's has already downgraded ING which directly affects ING Canada, with its mortgage lending practise:

Thu, 06/21/2012 - 16:50 | 2548745 ZippyBananaPants
ZippyBananaPants's picture

what a bunch of pussies, afraid to release

Thu, 06/21/2012 - 16:56 | 2548766 nomorebuyins
nomorebuyins's picture

Wait a second, we can't report negative news... Quick Nomura put a $40 price on FB, oh that's more like it. What were we talking about? Aaaaah the pain is gone.

Thu, 06/21/2012 - 17:04 | 2548790 semperfi
semperfi's picture

it will be 400pm somewhere when it happens

Thu, 06/21/2012 - 17:05 | 2548793 Piranhanoia
Piranhanoia's picture

What time zone is the 4:00 advertisement?   Mountain time is next.  Eastern and central have gone by.

Thu, 06/21/2012 - 17:07 | 2548799 Olympia
Olympia's picture

Global Debt Crisis

The greatest private fraud of human history.
Who are the great fraudsters who are becoming the murderers of the human kind? How does the economy "illness" threaten Democracy and the freedom of people?
By knowing what happened in indebted Greece, where loan sharks created “bubbles” and the current inhuman debt, one can understand the inhuman plan in total ...understand where this plan started just to bring all states at the same end ...understand how this type of plans are established...

Thu, 06/21/2012 - 17:09 | 2548801 thedrickster
thedrickster's picture

Globex reopens in 53 minutes for the night, methinks we wait for "liquidity".

Thu, 06/21/2012 - 17:09 | 2548805 Ullage_Report
Ullage_Report's picture

Couldn't MS just sell some of their Treasury inventory (~$60b) off in order to post out? Their pure "margined" securities only represents $141 of a $781 billion dollar balance sheet, anyway. They are not on the "hook" for much more than ABCP (paper). This is not AIG.

Thu, 06/21/2012 - 17:18 | 2548825 No One
No One's picture

Obviously Moodys has been told to hold off on official releasing these downgrades until all Insiders have the chance to set up their trades.

Thu, 06/21/2012 - 17:27 | 2548842 optimator
optimator's picture

MS should reallyl rally big time tomorrow, just think about how much FED bucks will be rolling in to their coffers.

Thu, 06/21/2012 - 22:09 | 2549626 Go Tribe
Go Tribe's picture

"Banks"? Really?

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