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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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Mon, 10/31/2011 - 11:14 | 1828561 Mitch Comestein
Mitch Comestein's picture

You fuckin rule Jone.

Mon, 10/31/2011 - 11:21 | 1828583 camaro68ss
camaro68ss's picture

Bullish if i may say

Mon, 10/31/2011 - 11:51 | 1828700 DoChenRollingBearing
DoChenRollingBearing's picture

Rating Agency DoChenRollingBearing rates Banksters:

Jon Corzine     FF-

Mon, 10/31/2011 - 12:04 | 1828734 DoChenRollingBearing
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...

Mon, 10/31/2011 - 12:11 | 1828759 CPL
CPL's picture

He and his children are already on the list.

Mon, 10/31/2011 - 12:12 | 1828762 What does it al...
What does it all mean's picture

MOTHER F__Kers GLOBALLY!

I can't resist...

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

Mon, 10/31/2011 - 12:18 | 1828773 devo
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).

Mon, 10/31/2011 - 11:14 | 1828562 Irish66
Irish66's picture

Can we get Egan to post here

Mon, 10/31/2011 - 11:21 | 1828584 He_Who Carried ...
He_Who Carried The Sun's picture

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

Mon, 10/31/2011 - 12:04 | 1828737 TheLooza
TheLooza's picture

You're bankrupt? Fuck you; pay me.

Mon, 10/31/2011 - 11:16 | 1828565 oceanview76
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?

Mon, 10/31/2011 - 11:19 | 1828566 LawsofPhysics
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.

Mon, 10/31/2011 - 11:20 | 1828570 trampstamp
trampstamp's picture

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

Mon, 10/31/2011 - 11:21 | 1828586 HelluvaEngineer
HelluvaEngineer's picture

Scheduled demolition in progress?

Robo, check out CMG.

Mon, 10/31/2011 - 11:22 | 1828590 Deadpool
Deadpool's picture

lots of power out in northeast today.

Mon, 10/31/2011 - 11:31 | 1828622 trampstamp
trampstamp's picture

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

Mon, 10/31/2011 - 12:09 | 1828750 Manipulism
Manipulism's picture

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

Better pull the plug.

Mon, 10/31/2011 - 11:17 | 1828571 Archimedes
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?

Mon, 10/31/2011 - 11:19 | 1828572 Hansel
Hansel's picture

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

Mon, 10/31/2011 - 11:19 | 1828578 Hopium Dealer
Hopium Dealer's picture

Credit Ratings for Dumbies: http://en.wikipedia.org/wiki/Credit_rating

Mon, 10/31/2011 - 11:19 | 1828581 maxmad
maxmad's picture

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

 

Mon, 10/31/2011 - 12:16 | 1828768 Harlequin001
Harlequin001's picture

Not necessarily.

they might have a wait and see policy.

Mon, 10/31/2011 - 11:21 | 1828588 Shizzmoney
Shizzmoney's picture

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

Mon, 10/31/2011 - 11:22 | 1828589 Wolferl
Wolferl's picture

Deutsche Bank loses 1 Billion in MF Global insolvency.

http://pegnitzpirat.wordpress.com/2011/10/31/mf-global-inc-pleite-schuld...

Mon, 10/31/2011 - 11:31 | 1828620 Note to self
Note to self's picture

HERE we go.  Now its gonna get interesting.

Mon, 10/31/2011 - 12:11 | 1828755 Manipulism
Manipulism's picture

This is peanuts(Hilmar Kopper)

Mon, 10/31/2011 - 13:27 | 1828947 earleflorida
earleflorida's picture

tell that to the hungry elephant in the room

Mon, 10/31/2011 - 11:22 | 1828591 lolmao500
lolmao500's picture

Those bastards still rate the US AAA...

Mon, 10/31/2011 - 13:17 | 1828916 Hippocratic Oaf
Hippocratic Oaf's picture

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

Mon, 10/31/2011 - 11:25 | 1828597 lizzy36
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.

Mon, 10/31/2011 - 11:30 | 1828615 GeneMarchbanks
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...

Mon, 10/31/2011 - 11:53 | 1828707 Cindy_Dies_In_T...
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.

Mon, 10/31/2011 - 12:19 | 1828779 DoChenRollingBearing
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.

Mon, 10/31/2011 - 11:28 | 1828601 vast-dom
vast-dom's picture

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

Mon, 10/31/2011 - 11:29 | 1828610 Irish66
Irish66's picture

Taylor, hasn't Egan downgraded France already

Mon, 10/31/2011 - 11:29 | 1828611 ItsDanger
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.

Mon, 10/31/2011 - 11:30 | 1828616 AnAnonymous
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.

Mon, 10/31/2011 - 11:35 | 1828630 scatterbrains
scatterbrains's picture

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

 

Mon, 10/31/2011 - 11:35 | 1828634 SDRII
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

Mon, 10/31/2011 - 11:40 | 1828642 The Deleuzian
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

Mon, 10/31/2011 - 11:56 | 1828708 topcallingtroll
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.

Mon, 10/31/2011 - 11:57 | 1828716 wawazat
wawazat's picture

Tyler-

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

Mon, 10/31/2011 - 12:06 | 1828742 azusgm
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.

http://www.egan-jones.com/

They rule.

Mon, 10/31/2011 - 12:07 | 1828743 goldfreak
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

Mon, 10/31/2011 - 12:11 | 1828756 AndrewJackson
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.

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