SO IT BEGINS: SOCGEN DEBT, DEPOSIT RATINGS CUT BY ONE NOTCH TO Aa3 BY MOODY'S, OUTLOOK NEGATIVE

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Wed, 09/14/2011 - 01:13 | 1666545 PeterB
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It's for the best

Wed, 09/14/2011 - 01:33 | 1666603 TruthInSunshine
TruthInSunshine's picture

"The first we do, let's kill all the lawyers."

 

This, as most know, was Shakespeare's acknowledgment that the first thing any potential tyrant must do to eliminate freedom is to kill those existing lawyers who regulate the law, so that they can supplant the system with their own tools and devices.

In the updated version, "[T]he first thing we do, let's kill all the bankers" is meant literally, and it's for pure & good reasons, not tyrannical ones, so that we can be free of the criminality and indentured (and indebted) servitude that fractional reserve banking (aka Modern Money Mechanics) has wrought upon the world's innocents.

 

"The first we do, let's kill all the banksters."

Wed, 09/14/2011 - 01:37 | 1666547 Segestan
Wed, 09/14/2011 - 01:16 | 1666550 SumSUN
SumSUN's picture

"2008 is on the phone, says you forgot something."

Wed, 09/14/2011 - 01:15 | 1666551 T2
T2's picture

Downgrade bitches!

Wed, 09/14/2011 - 01:16 | 1666552 HoofHearted
HoofHearted's picture

Ruh roh, Shaggy. There goes Europe. (And maybe the idea that Wednesday was Greece's day will turn out to be right.) Glad I'm still holding FAZ. But this doesn't end well...for any of us. The strange thing is we all know SocGen, BNP, Dexia, et al are not AAA anyhow...

Wed, 09/14/2011 - 01:19 | 1666560 Sequitur
Sequitur's picture

Love me some FAZ!

Wed, 09/14/2011 - 01:21 | 1666562 EscapeKey
EscapeKey's picture

Negative news has been priced in already.

Isn't it about time we get some QE3 pricing in? We haven't seen quite enough of those days just yet.

Wed, 09/14/2011 - 01:21 | 1666565 docj
docj's picture

And yet, BBC News just told anyone up at this unholy hour that the residual risk of Greek debt is "modest". Well, I suppose that's true if you've already priced in a total bankruptcy.

Wed, 09/14/2011 - 01:22 | 1666570 JLee2027
JLee2027's picture

How do the bankrupt maintain Aa3 ratings?

Wed, 09/14/2011 - 01:26 | 1666577 Rodent Freikorps
Rodent Freikorps's picture

Hookers and bribes.

Wed, 09/14/2011 - 01:23 | 1666572 Id fight Gandhi
Id fight Gandhi's picture

Bah, I say triple hook o Rama!

Whooooooo!

Wed, 09/14/2011 - 01:26 | 1666575 EscapeKey
EscapeKey's picture

up next: CREDIT AGRICOLE FILES SUIT VS MOODYS

Wed, 09/14/2011 - 01:26 | 1666579 Arkaenun
Arkaenun's picture

Black helicopters to Moody's, stat!

Wed, 09/14/2011 - 01:26 | 1666580 JW n FL
JW n FL's picture

 

 

This is a Fucking MASSIVE GIVE AWAY!!

That is all.. a Transfer.. to evil China.. to force service of the Debt.. so that everyone continues to get paid..

This is about shifting the idea of who owes who what!

If the American People Owed the FED all those $14 Trillion the American People would tell the FED to pound fucking sand!

But! becuase China owns it.. "We the People" need to pay.. LOL!! Why?

Cause some other banker owns some 1's and 0's???? that you never agreed too??

Greed, Passing the idea.. of who is owed and why they might need be to paid?

cause they? China.. with their Bought and Paid for Country of at fucking least 1,200% Leveraged Piece of shit Renminbi??

WAKE UP YOU FUCKING BOTTOM DWELLING MONKEYS!!

Never Mind!! You deserve it!

and never forget -------------------> http://www.youtube.com/watch?v=d9TnMUlIBKQ&list=FLbRZZAixeFXZfqszvKisEdQ&index=1

Wed, 09/14/2011 - 01:31 | 1666601 MiddleageThinni...
MiddleageThinninghair's picture

Maybe this is Karma squaring up some of the history of the forced opium trade.

Wed, 09/14/2011 - 01:28 | 1666587 lolmao500
lolmao500's picture

So good news everyone, no Euro bonds!

Wed, 09/14/2011 - 01:28 | 1666590 caerus
caerus's picture

bout time

Wed, 09/14/2011 - 01:28 | 1666591 mr. mirbach
mr. mirbach's picture

Will S&P follow with their own downgrade of SocGen or are there too many DOJ shills trolling around their offices? 

 

 

Wed, 09/14/2011 - 01:29 | 1666592 Denver768
Denver768's picture

F Moody's.... like their some sort of white driven snow virgin.

Don't piss on my leg and tell me it's raining.  

We all know the ship's sinking.  The minute we took all the insolvent banks, and bad corporate deals, and bailed them out by putting billlions and trillions on the backs of the Fed balance sheet, future generations and taxpayers...  we all knew the endgame was just a matter of time.   We were sold up the river by our elected officials and their corporate handlers.

The monetization of the enormous debt in a cycle that gets shorter and shorter.... Despite the continued printing and pumping to keep the rates low to extend and pretend, it will unwind in the US too.  ... But as usual, looks like the Europeans beat us to the punch.

...tick, tick...

Wed, 09/14/2011 - 01:29 | 1666593 Denver768
Denver768's picture

F Moody's.... like their some sort of white driven snow virgin.

Don't piss on my leg and tell me it's raining.  

We all know the ship's sinking.  The minute we took all the insolvent banks, and bad corporate deals, and bailed them out by putting billlions and trillions on the backs of the Fed balance sheet, future generations and taxpayers...  we all knew the endgame was just a matter of time.   We were sold up the river by our elected officials and their corporate handlers.

The monetization of the enormous debt in a cycle that gets shorter and shorter.... Despite the continued printing and pumping to keep the rates low to extend and pretend, it will unwind in the US too.  ... But as usual, looks like the Europeans beat us to the punch.

...tick, tick...

Wed, 09/14/2011 - 01:30 | 1666597 MiddleageThinni...
MiddleageThinninghair's picture

For the last 2 years I have been wondering why the stock markets around the world have rallied on what I consider bearish fundamentals.  So, now should I really believe that the stock market is now responding to the true fundamentals?  Or, is the downward trajectory acting on the same unknown driver to me but this time just coincidentally moving in the direction I would expect?

Wed, 09/14/2011 - 01:36 | 1666612 BlackholeDivestment
Wed, 09/14/2011 - 01:39 | 1666622 lano1106
lano1106's picture

What is the expected european market reaction from this when they open? Asian markets beside KOSPI are red but it does not seem catastrophic yet

 

Wed, 09/14/2011 - 01:45 | 1666638 Blorf
Wed, 09/14/2011 - 01:51 | 1666654 Mr Lennon Hendrix
Mr Lennon Hendrix's picture

China just got played.  Again.  Damn China when you going to lose the losers and realize you have epic problems of yor own?

Wed, 09/14/2011 - 02:09 | 1666693 BlackholeDivestment
Wed, 09/14/2011 - 02:14 | 1666704 The Shootist
The Shootist's picture

Well, I guess they can't rock the boat and let their economy suffer with unemployment. Can't have 100M unencumbered youths in the People's Republic.

Wed, 09/14/2011 - 02:17 | 1666713 chump666
chump666's picture

I hear ya, like I have been saying China is "done".  Kinda frightening actually.

Wed, 09/14/2011 - 03:17 | 1666937 BlackholeDivestment
BlackholeDivestment's picture

...there's an old 2001, and very B movie, that kinda puts a fine point on the Great Wal Mart of China one child forced abortion Yahoo bottomline mindset with the little commie bastards. Go to the 1:03:40 mark http://www.youtube.com/watch?v=Ol1eCTiPOFA&feature=related ...so we'll see how it plays at soon in real time. lol

http://www.youtube.com/watch?v=YMYC-RNFjrU&feature=related

Wed, 09/14/2011 - 02:46 | 1666784 Hephasteus
Hephasteus's picture

I'm glad they toned it down. I thought they were going to go through the whole crisis at IMF face fucking drama levels.

Wed, 09/14/2011 - 03:09 | 1666879 pappyhlace
pappyhlace's picture

now they downgrade...thanks asswipes too bad the algos made a 30 pt SP jump

falling knife ne one?  hope u full retarded SP 1400 bulls got oven mitts on

Wed, 09/14/2011 - 05:03 | 1667496 Motley Fool
Motley Fool's picture

I'm curious that no-one contemplates that Moody's is a tool for US interests and the implications therof.

Wed, 09/14/2011 - 06:19 | 1667710 PulauHantu29
PulauHantu29's picture

Slow painful collapse.

Wed, 09/14/2011 - 07:00 | 1667747 Stalz8
Stalz8's picture

Billy Joel said it best..."and we will all go down together..."

Wed, 09/14/2011 - 08:06 | 1667843 jtmo3
jtmo3's picture

Wow, that was scary. For a moment there, I thought this meant something. Good thing it didn't for overseas or us markets. 

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