Presenting The Current MF Global Ratings At Moody's, S&P And Fitch

Tyler Durden's picture

And the winners are.... Moody's Ba2-; S&P: BBB-; Fitch: BB+;  Congratulations to Egan-Jones for once again being the only rating agency worth their money and calling this collapse in advance.

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Mitch Comestein's picture

You fuckin rule Jone.

DoChenRollingBearing's picture

Rating Agency DoChenRollingBearing rates Banksters:

Jon Corzine     FF-

DoChenRollingBearing's picture

Corzine bankrupts the state of New Jersey.  Corzine bankrupts MF Global by making bad bets on bonds in Europe.  Corzine headed up Goldman Sachs.

I heard that there was a bond placement by MF that the Buyers would not touch if Corzine went to work for the Obama administration.

And he walks away with a $12,000,000 bonus.

Jon Corzine is a leading cadidate for biggest POS on planet Earth.  As dirty as they come.  

I wonder if/when OWS will have anything to say...

CPL's picture

He and his children are already on the list.

What does it all mean's picture


I can't resist...

Nope, I don't think I am the first one!

devo's picture

Yep. I lived in NJ under Corzine. There's a reason I moved. (My mother told me they actually tax you to leave the state now).

Irish66's picture

Can we get Egan to post here

He_Who Carried The Sun's picture

I want Vito Corleone to post here! *Bang! Bang! ... Bang!*

TheLooza's picture

You're bankrupt? Fuck you; pay me.

oceanview76's picture

Does E-J rate soverign debt?  When can we expect downgrades on Italy & Spain from Moody's et al?  30 days after the G20?

LawsofPhysics's picture

Rick Santelli went off this morning about the "poor traders" who got locked out.  Play with paper and don't do your homework, expect to get burned.  they better put ZH on their blackberrys.  What's the problem Rick, you were yelling for the "animal spirit" to return months ago, now you don't like it.

Burn it all down and let's find out what the real value of everyone's labor is.

trampstamp's picture

Have you all noticed that the HFT machines are off today? Practically none are running. WTF? Tyler any idea why?

HelluvaEngineer's picture

Scheduled demolition in progress?

Robo, check out CMG.

Deadpool's picture

lots of power out in northeast today.

trampstamp's picture

Crap.. turns out i had to update HFT to 1.04. All good again.

Manipulism's picture

Maybe because of zhis MF shit they would go unstoppable crazy.

Better pull the plug.

Archimedes's picture

Hmmm, amazing the only non-corrupt rating agency gets it right and yet Egan Jones is not considered by markets to be one of the agencies to pay attention to.  I wonder why?

Hansel's picture

B stands for Bankrupt, apparently.  The corrupt 3 should be shut down yesterday.

maxmad's picture

Not to worry.... They should be downgrading this morning...


Harlequin001's picture

Not necessarily.

they might have a wait and see policy.

Shizzmoney's picture

The corruption is just so blantant.  It's sickening.

Note to self's picture

HERE we go.  Now its gonna get interesting.

Manipulism's picture

This is peanuts(Hilmar Kopper)

earleflorida's picture

tell that to the hungry elephant in the room

lolmao500's picture

Those bastards still rate the US AAA...

Hippocratic Oaf's picture

Whoa........whoa.......whoa........ Buffet had us at quadruple-A, WTF?!?!

lizzy36's picture

Can hardly wait for this to be politicized by Obama and the Fed.

See we let "something" fail. Nevermind that MF GLobal was not IN ANY WAY SHAPE OR FORM systemically important.

That piece of toliet paper AKA franken-dodd will now be pointed to as "awesome" legislation and TBTF is over.

Nevermind that MF global was never TBTF. 

Wait until this afternoon, this is how the story will be spun.

GeneMarchbanks's picture

'Nevermind that MF GLobal was not IN ANY WAY SHAPE OR FORM systemically important.'

Remains to be seen. I'd like to think 'they' know what they're doing but we're way past that point...

Cindy_Dies_In_The_End's picture

The LA Times is saying that Corzine was a "victim" of the EU Crisis. A commenter re-spun it correctly-Corzine was an over leveraged hack who made bad gambling bets and got burned. Fuck MF Global.

DoChenRollingBearing's picture

+ 1

Jon Corzine a victim my ass.  MF Global was apparently a good company until Corzine took over.  Then he makes a bad bet in Europe.  MF goes down, Corzine walks away with a $12,000,000 bonus.

vast-dom's picture

SP 850 can't arrive fast enough....I confirm and align with these here revised ratings........

Irish66's picture

Taylor, hasn't Egan downgraded France already

ItsDanger's picture

When are pension plans going to demand more use of firms with good records like EJ?  Stop using the other ones until they wake up.

AnAnonymous's picture

Exactly why the speech about censoring rating agencies from the other day was just an awkward propaganda dance.

T his is how US citizen propagandists enable one another, they try to discredit each other propaganda, trying to sell the idea their propaganda is worth being discredited, is as worthwhile as facts. So the guy threatened to censor the agencies.

Proposition: agencies have to be censored.

Cause: they are telling damaging facts.

Result: credibility of agencies is strengthened.

Consequence: Nations grades are realler than they were before.

But what? Those agencies have zip credibility. They predict the past.

Propagandists enabling each other.

scatterbrains's picture

What does it imply that the LME is the only one's allowing MF to trade ?


SDRII's picture

as part of cnbc public interest will salvage mf and effect a takunder of etrade whereupon it will have amalgamated an epic retailarded platform. one stop shop

The Deleuzian's picture

Just a small fish in a small pond...Soon there will only be a dozen or so "big fish" all sucking eachothers tailfins...buyouts, bailouts, bankruptcies...Soon to all be synonyms...

BTW...Bove was just on Bloomberg

topcallingtroll's picture

We also have the Paradox of Ratings to go along with Paradox of Thrift.

If all the agencies unanimously say it is going to collapse then it will collapse.

Only a minor player can call the collapse of big institutions. Big players must self police and hold back from all piling on together.

I wonder if the big players like Moody's, S and P get together ahead of time and divvy up the downgrades.

wawazat's picture


What is Egan-Jones current rating on the U.S. Debt?

azusgm's picture

Gotta see Egan Jones webpage. Almost looks like something from ZH. Pretty hilarious to someone who has been watching the fiasco we call the free market.

They rule.

goldfreak's picture

it would be nice to know who they are giving the same rating to, it follows that they should be going bankrupt too

AndrewJackson's picture

Its interesting. At the cbot, there is no one on the floor with mf. Things are really empty here and trading is pretty much halted for the day.