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

Tyler Durden's picture

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PeterB's picture

It's for the best

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."

SumSUN's picture

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

T2's picture

Downgrade bitches!

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...

Sequitur's picture

Love me some FAZ!

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.

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.

JLee2027's picture

How do the bankrupt maintain Aa3 ratings?

Id fight Gandhi's picture

Bah, I say triple hook o Rama!

Whooooooo!

EscapeKey's picture

up next: CREDIT AGRICOLE FILES SUIT VS MOODYS

Arkaenun's picture

Black helicopters to Moody's, stat!

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

MiddleageThinninghair's picture

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

lolmao500's picture

So good news everyone, no Euro bonds!

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? 

 

 

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...

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...

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?

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

 

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?

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.

chump666's picture

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

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

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.

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

Motley Fool's picture

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

PulauHantu29's picture

Slow painful collapse.

Stalz8's picture

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

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.