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Wells Fargo downgraded too according to Bloomberg.
I'm confused. Who in the fuck does S&P work for?
The people who went hard short before close, duh.
$4.98, $4.98, $4.98 oh yea!
So what is everyone doing for the Bank Holidays this year?
Loading the ARs and stringing more concertina wire.
Will CNBC ask Meredith Whitney for her opinion? Bloomberg just had Sean Egan on and as usual he was very cogent. On banks stand alone earning abiility, Fed support, sovereign and banks hooked at hips, etc
Can anyone say BANK RUN! :)
* Bank Run *
oh, look. we're all still here.
Death by a thousand cuts eludes you.
It's cool. 995 and counting.
Here is what the average banker will soon be doing.
economic martial law will be in full effect to prevent bank runs in the USSA. bank holidays & withdrawal restrictions will become the new norm
My puts are happy right now, but I will cash them in soon for gold. I think there be a lot more MF Global situations popping up with brokerages that have lost/stolen client money
if you are trading anything in this market, make sure it is money you can afford to lose.
Thank goodness! My shorts were really starting to chafe the way S&P rubbed up against 1200 all day. I was worred about that! Good Times!
Holy shit, check this out.
MSM: Me worry?
It's how they roll. Up arrow.
All is well... consumer confidence is up.
Speaking of confidence. How have to like the reason S&P said they downgraded them.
S&P is in the opinion that becasue of negative feelings about bailouts.
There will be no more Bank Bailouts. It is really hard to believe that it was expected again.
The new rumor is QE3 will be mostly used to monetize bad mortgages on the banks balance sheets.
What the hell is going on. Who runs the FED. Didn't the Bernanke say under oath, I will not monetize.
He didn't pinkie swear though.
I get the feeling the Demagogue-in-chief will scream bloody murder at his largest benefactors before the start second act in this political tragicomedy. Getting close to the time where they lob him a meatball.
I'm thinking that large benefactors may prefer to hitch their wagons to Newt or whoever the Repubs put out (not that that's any better), rather than keep pitching money at the thankless idiot. Idiot will only stay around if he can keep delivering what the .01% want. If he can't, he'll lose in a Carter-like landslide, or-- if there are some threats/promises made-- refuse to run a la LBJ.
There are plenty of signals that it will be Hillary vs Newt. Makes things easy as the election won't interupt my magazine loading and kukri sharpening.
"So what is everyone doing for the Bank Holidays this year?"
Watching 'It's a Wonderful Life' about fifty times.
As opposed to watching the market and thinking "It's a Wonderful Lie"?
Naked shorting ban coming right up. You heard it here first...
I've heard that one before. Hey, pull my finger....
The unintended consequences if the regulators decide on that will ensure the market really does tank. Would be as dumb as preventing the CDS payout on the Greek default.
$707,568,901,000,000 represents the latest total amount of all notional OTC outstanding derivatives... why ban naked shorts?
Congress people, congressional aids, senators, aids, lobbyists, lobbyists baby mommas, certain white shoe boys.
I'm certain I missed a few, no disrespect intended.
None of the unwashed masses like me?
Let me check......hmmmmmm......nope. Not on the list. Hope and change! Merry Christmas!
You forgot the US Supremes
The guy, who's eye, is coming from a periscope on the back of the pyramid on a green and black currency in easy to hide denominations or guaranteed deposits offshore.
The other banks
Maybe S&P will now upgrade the US credit rating to AAA again citing improving conditions following the Super Committee's glorious holiday impasse. Who the phuck cares about these trolls?
"Who in the fuck does S&P work for?"
I keep wondering on this myself, COULD anyone verify who is the REAL controlling entity of S&P is? Somehow I think recent letting go the CEO over USA AAA downgrade was just for show.
The S&P and Moody's and the like are regulated by the SEC. Who regulates the SEC why the US government of course! So once again S&P regulated by corrupt government agencies like the Treasury and Justice Departments, who only regulate what they want regulated and the hell with everything else even if it is illegal.
We all seen this coming!
We dont need no water let the mother F**** Burn
Burn, mother fuckers, burn!!!!
My puts thank you.
Now maybe Citi will finally tank. My puts are counting on it.
I have puts on:
Santander (unchanged, with appropriate ticker symbol STD)
It doesn't matter if a bank didn't get downgraded, because this thing is CONTAGIOUS
OK....BAC....Let's see here....
Over two trillion in liabilities according to the latest balance sheet.....Check!
Operating income applicable to common shares 2009 and 2010, negative......Check!
Another annual loss for 2011 so far......Check!
That makes BAC a company with over 2T in debts operating at a shareholder loss for the past three years running, and it's still worth $50B. That is amazing, as in amazing opportunity for my puts to explode in value.
obama won't disappoint Buffet....same government rescue play with goldman sachs.
Bernanke just waiting until spring 2012 to launch QE3 big time to boost Obama's election.
meanwhile, let non-government folks suffer a bit to concentrate even more power in the hands of government folks (aka. the status quo)
All but 7 of the NY Fed's Primary Dealers got whacked. Coincidence? Nah, US paper is crap too, nobody but S&P is being somewhat (cough, giggle, snort) honest about that too.....
List of Primary Dealers zapped is here:
Sooo ... Jefferies, Canada and Japan are "safe", while the rest are more risky? Interesting....
I guess this means that markets will rally tomorrow.
Of course it will. What happened to treasuries when the U.S. got it's downgrade? Too funny.
so this means bank stocks are cheap and a good buy? i'd hate to miss the bottom?
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