S&P Downgrade Bloodbath Begins

Tyler Durden's picture

Here we go as S&P starts going down the list of all US-related issuers

  • Options Clearing Cut to AA+ From AAA by S&P, Outlook Negative - there goes no counterparty risk
  • Natl Securities Clearing Cut to AA+ from AAA by S&P, Outlook Neg - there goes no clearing risk
  • DTCC Cut to AA+ from AAA by S&P, Outlook Neg - there go all your stock certificates

Many, many, many more coming, not least of all will be 7,000 muni issuers. Watch those copulas ladies and gents. And for those at various CVA desks: our condolences. You are about to have a very, very ugly day.

Comment viewing options

Select your preferred way to display the comments and click "Save settings" to activate your changes.
Cognitive Dissonance's picture

I love the smell of (S&P) downgrades in the morning.


johngaltfla's picture

Yup. Downgrading a buttload of FDIC guaranteed notes from AAA to AA+ now....for every major bank in the nation.

Long-John-Silver's picture

It leaves a taste of napalm in the back of your throat.

DaveyJones's picture

I call my yard garden my "Defeat Garden"

MsCreant's picture

Funny. I may steal that.

Yardfarmer's picture

how does that garden grow, DJ? while everyone is variously titillated and alternately squirming in their ringside seats in rapt attention at the fascinating horror show spectacle of economic/social catastrophe and geopolitical madness, my neighbors in the barnyard are providing a steady supply of milk and cheese and succulent cabrito while the hillside gardens have grown bountiful with greens since early March. the tomatoes and peppers are following hard on the zucchini and buttercup squashes, delightfully verdant oases in an otherwise parched wasteland of drought. lots of hard work but a most pleasant and rewarding activity compared to the pallid and generally fruitless voyeuristic preoccupation with hopeless and unchangeable debacle. cheers!  

DaveyJones's picture

Yo Yardman, it grows well thank you. I have been experimenting with perennial vegetables and other lesser knows with inspiration from the PFAF website and others. My Yard garden is not much, it can't yet feed my family. But it is the best thing I have come up with for my own therapy. They say a baboon can recognize up to 800 plants and discern from the edible, medicinal and avoidable. Think about it, us humans spend billions to lobby our leaders so we can not tell the genetically modified from nature. We then construct an entire food system completely dependant and a system and energy source at the brink of ecomomic and functional extinctinon. Dumber than Monkyes.   

UGrev's picture

Should I be looking up to watch for falling bodies as I walk along the side-walk? or is it too soon for that? I just don't want to miss it. I want to make sure I have the op to take a giant, clevland steamer on some bankster fuck who did a perfect 10 belly flop from the 50th. 

SWRichmond's picture

If I saw a body hit the pavement from a window at GS, JPM, the NY Fed, I would definitely piss on it. It'd be worth getting arrested for.

MsCreant's picture

Your piss is too good for them. Maybe a cop could issue them a ticket for littering.

DaveyJones's picture

brings new meaning to the term piss poor

Black Friday's picture

You have to wonder about an agency that downgrade enmass during a market crash.

YHC-FTSE's picture

As far as I can remember, nobody here thought they had the balls. I guess all those whining posts on ZH about the ratings agencies finally struck home? Or this is another whole ball-game to make a sea of red in the markets for days to ______ (Enter your favourite conspiracy theory here).

bob_dabolina's picture

For everyone listening to Jim Cramers advice he was rec. deep in the money calls to unsophisticated investors 1200 DOW points ago.

UGrev's picture

I thought red necks were into NASCAR? .. hmm. oh wait. that's RACING.. nvm.. 

fuu's picture

Coming from you that is almost funny.

bob_dabolina's picture

He should go back to his black panther meeting

fuu's picture

What if he is hispanic?

bob_dabolina's picture

Than he should go back to his La Raza meeting

PaperBugsBurn's picture



i'm neither, mf'er


you calling anybody racist?  2 funny



bob_dabolina's picture

You're the one randomly ad hominem attacking me with racial epitaphs. I don't come on the boards and start calling people niggers and spicks (like you demonstrated today with your mad insult skills)

At least when I talk, I back it up you punk bitch.

Ethics Gradient's picture

Quidquid latine dictum sit altum videtur.

PaperBugsBurn's picture

When you talk you back it up?


How the fuck do you back up a statement like "niggers are worthless" (your statement)?


You must be an ugly, ignorant (former slave-owner) southerner who are in cahoots with the banksters over the "drug war". "federal prisons" and private prisons are your new plantations.


I must say too, anybody whop feels a need to put somebody else down because of race or whatever has an inferiority complex to begin with.


You are pure scum and your day is coming... no more bankster dollar to enable you hicks to run around acting like pirates ("law enforcement -ha). Back to the bayou, you ignorant scum!!

bob_dabolina's picture

I didn't say niggers were worthless. I said blacks were worthless and I backed that comment up with hard facts. Why don't you look at the unemployment rate, and welfare programs in general by demographic. 

So like I said, I don't run around calling people "red neck" "nigger" or "spick" or "chink" or anything else like you do. 

You ad hominem because you don't have shit else to say (but sure can put words in my mouth like nigger, maybe because you want one in yours)

16% unemployed


Take a look at food stamp usage by demographic if you want to be really embarrased. You can look that one up yourself. You can start here:

"90% of black children on food stamps"



PaperBugsBurn's picture

Here's your un-banksterfied history lesson for today:

Carrie Buck v. James Hendren Bell, Superintendent of State Colony
for Epileptics and Feeble Minded
Citations 274 U.S. 200 (more)
47 S. Ct. 584; 71 L. Ed. 1000

The ruling was written by Justice Oliver Wendell Holmes, Jr. In
support of his argument that the interest of the states in a "pure"
gene pool outweighed the interest of individuals in their bodily
integrity, he argued: We have seen more than once that the
public welfare may call upon the best citizens for their lives. It
would be strange if it could not call upon those who already sap
the strength of the State for these lesser sacrifices, often not
felt to be such by those concerned, in order to prevent our being
swamped with incompetence. It is better for all the world, if
instead of waiting to execute degenerate offspring for crime, or to
let them starve for their imbecility, society can prevent those who
are manifestly unfit from continuing their kind. The principle that
sustains compulsory vaccination is broad enough to cover cutting
the Fallopian tubes.

Holmes concluded his argument with the infamous phrase "Three
generations of imbeciles are enough".

They were unable to carry out the thorough, documented process for lack of database technology. Prescott Bush, Carnegie, Rockefeller foundations were all behind this.

Edwin Black, jewish researcher of the German ethnic cleansing in the 1940s, found their older history when he found the IBM Nazi connection. IBM's database technology was what allowed the Germans to ethnic cleanse you, your sister, brother, cousins etc. That is why the earlier one failed. He wrote a couple of books including Nazi Nexus and War on the Weak. Here's a chat about War on the Weak:


This man also states that there was a connection between the Rockefeller foundation and Mengele's overseer. It's in one of his chats. See, it wasn't just a business connection between Thyssen and Bush; it was part of a much larger ethos and yes, conspiracy.

During the 1950s Prescott Bush ran for the US senate and lost when a last minute rumor linking him with the old Birth Control League (yes, you heard correctly: the BIRTH CONTROL LEAGUE which is shy George HW Bush was called "rubbers" as in condoms when he was in Congress in the sixties pushing this:

Congressional record in the

Population Task Force

Among Bush's most important contributions to the neo-Malthusian cause while
in Congress was his role in the Republican Task Force on Earth Resources
and Population. The task force, which Bush helped found and then chaired,
churned out a steady stream of propaganda claiming that the world was
already seriously overpopulated; that there was a fixed limit to natural
resources and that this limit was rapidly being reached; and that the
environment and natural species were being sacrificed to human progress.
Bush's task force sought to accredit the idea that the human race was being
"down bred," or reduced in genetic qualities by the population growth among
blacks and other non-white and hence allegedly inferior races at a time
when the Anglo-Saxons were hardly able to prevent their numbers from
Comprised of over 20 Republican Congressmen, Bush's Task Force was a kind
of Malthusian vanguard organization which heard testimony from assorted
"race scientists," sponsored legislation and otherwise propagandized the
zero-growth outlook. In its 50-odd hearings during these years, the task
force provided a public forum to nearly every well-known zero-growth
fanatic, from Paul Ehrlich, founder of Zero Population Growth (ZPG), to
race scientist William Shockley, to the key zero-growth advocates infesting
the federal bureaucracy.
Giving a prestigious congressional platform to a discredited racist
charlatan like William Shockley in the year after the assassination of Dr.
Martin Luther King, points up the arrogance of Bush's commitment to
eugenics. Shockley, like his co-thinker Arthur Jensen, had caused a furor
during the 1960s by advancing his thesis, already repeatedly disproven,
that blacks were genetically inferior to whites in cognitive faculties and
intelligence. In the same year in which Bush invited him to appear before
the GOP task force, Shockley had written: "Our nobly intended welfare
programs may be encouraging dysgenics -- retrogressive evolution through
disproportionate reproduction of the genetically disadvantaged.... We fear
that 'fatuous beliefs' in the power of welfare money, unaided by eugenic
foresight, may contribute to a decline of human quality for all segments of

During hearings on the Social Security amendments, Bush and witness
Alan Guttmacher had the following colloquy: Bush: Is there any
[opposition to Planned Parenthood] from any other organizations or
groups, civil rights groups?
Guttmacher: We do have problems. We are in a sensitive area in
regard particularly to the Negro. There are some elements in the
Negro group that feel we are trying to keep down the numbers. We are
very sensitive to this. We have a community relations department
headed by a most capable Negro social worker to try to handle that
part of the problem. This does, of course, cause us a good bit of
Bush: I appreciate that. For the record, I would like to say I am
1,000 percent in accord with the goals of your organization. I
think perhaps more than any other type of organization you can do
more in the field of poverty and mental health and everything else
than any other group that I can think of. I commend you.

This is an excerpt of Bush's unauthorized biography:


They killed Martin Luther King as his family's wrongful death civil suit against the CIA et al jury said in the late nineties. No MSM covered it. They also killed Malcolm X, JFK and a lot of other people. A credible JFK investigation :  http://www.youtube.com/watch?v=srstQVfVNEM

List of people they've murdered (google their names and their stories will come up):

Congressmen Larry McDonald, Sonny Bono and Larkin

USMC Colonel Sabow
Pulitzer Prize winner Gary Webb
Journalist Danny Casolaro
Ex-mil intel Steve Kangas who wrote the great "Origins of the Overclass" : http://www.scribd.com/full/23098198?access_key=key-gfuw42onruwfrrhw413
US Special Forces Colonels Edward P Cutolo, Baker, and one other whose name escapes me (all in the same incident).
Here's International Committee of the Red Cross investigator David Guyyat on this incident and background info:

As you can see, they are the real drug cartels and here's a good recap of what is known about their activities:


Here's where he first came to light when opposing CIA director Deutch ( a Bush stooge) in a LA townhall after Iran Contra came to light (Ricky Ross is an interesting figure in this case)


Dois Gene "Chip" Tatum who wrote the Tatum Chronicles (very interesting) and whose testimony you can find on YouTube in an interview with 30 year FBI veteran Ted Gunderson (the ones on the beach have more info):


This man's testimony confirms the accusations:  http://www.youtube.com/results?search_type=search_videos&search_query=be....

Anyways, a good recap in written form of the decades long CIA drug trafficking is Rodney Stich's Drugging America: A Trojan Horse:


So, the old Birth Control league became Family Planning after WWII when eugenics became taboo. Margaret Sanger was their shill. I and many others believe the "war on drugs is really their new ethnic cleansing technique:

The "war on drugs" results:


How it is done:


The overall picture:




bob_dabolina's picture

What's your excuse for Africa?

And ethnic cleansing? Eurgenics?

I see black women all the time, they have 6,7,8 fuckin' kids with 3 or 4 different fathers they have no clue who they are. I don't know what planet you're on you, but you need to slow down on the conspiracies, and lay off the weed man.

PaperBugsBurn's picture

Bill Gates and his "vaccination" program, KKK biatch!


Actually, I could give you the real history but why waste my breath on an ignorant redneck?

bob_dabolina's picture

Yea...Bill Gates is killing off the blacks in Africa. 

Ya know, maybe Adolph Hitler is still alive and he's doing it in secret. 

I'm done here.


jomama's picture

we could only wish you took your seething bigotry elsewhere.

Yardfarmer's picture

a most fascinating and timely compendium on the overarching and esoteric master plan for mass genocide, though probably mostly lost on the bottom feeding groundlings whose obsessive fascination with media induced trivialization oftentimes reduces this important forum to a soundboard of impotent puerile inanity.

madbomber's picture

on top of your game today , eh there farmer :)

im looking for a farm to rest my head- ill bring seeds and dogs ..

Lednbrass's picture

Former slave owners have been dead for 100 years. Im amazed your bipolar brain generates enough power to move your body.

If the system implodes and it came to it, the "hicks" will wipe the floor with the bodies of you stupid, sorry urbanites who think a Glock popgun is actually a weapon. Dont kid yourself.

ColonelCooper's picture

A Glock is what one uses to buy him/herself time to get to their weapon.  :)

jomama's picture

no-one could match the ignorance you flaunt on this subject.

Jeremy Roenick's picture

Follow the Yellow Brick Road!

sunnydays's picture

DOW down 309 at opening - yep ugly day!


CNBC trying to say it is all BS - talking down gold right now

Weisbrot's picture


GE (CNBC's parent corp)  Jeff Imelts step child has most likely been influenced on what spin to take.

EscapeKey's picture

DJIA -150. Buy, sheeple. Buy.

Hah, and the FTSE shot up 0.5% as the DJIA climbed.

Good thing infinite monetized deficits don't matter.

DeadFred's picture

My observation over time has been the first fifteen minutes of trade is usually in the wrong direction and literally changes course at 9:45. Is there some change that happens at that time? Today was 9:43, but close.