Standard And Poors Reviews 37 Global Banks, Downgrades Bulk - Full List Attached

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Tue, 11/29/2011 - 17:39 | 1927514 speconomist
speconomist's picture

Wells Fargo downgraded too according to Bloomberg.

Tue, 11/29/2011 - 17:42 | 1927539 The Big Ching-aso
The Big Ching-aso's picture



I'm confused.    Who in the fuck does S&P work for?

Tue, 11/29/2011 - 17:44 | 1927551 tmosley
tmosley's picture

The people who went hard short before close, duh.

Tue, 11/29/2011 - 17:46 | 1927566 GenX Investor
GenX Investor's picture

$4.98, $4.98, $4.98 oh yea!

Tue, 11/29/2011 - 17:49 | 1927579 SHEEPFUKKER

So what is everyone doing for the Bank Holidays this year? 

Tue, 11/29/2011 - 17:58 | 1927624 Steel_Preacher
Steel_Preacher's picture

Loading the ARs and stringing more concertina wire.

Tue, 11/29/2011 - 18:01 | 1927636 Cleanclog
Cleanclog's picture

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

Tue, 11/29/2011 - 18:31 | 1927752 American34
American34's picture

Can anyone say BANK RUN! :)

Tue, 11/29/2011 - 18:41 | 1927791 Oztralian
Oztralian's picture

* Bank Run *

oh, look. we're all still here.

Tue, 11/29/2011 - 21:09 | 1928160 Al Gorerhythm
Al Gorerhythm's picture

Death by a thousand cuts eludes you.

Tue, 11/29/2011 - 21:21 | 1928188 NotApplicable
NotApplicable's picture

It's cool. 995 and counting.

Wed, 11/30/2011 - 02:13 | 1928910 James
James's picture

Here is what the average banker will soon be doing.

Tue, 11/29/2011 - 18:57 | 1927840 Comay Mierda
Comay Mierda's picture

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.  

Tue, 11/29/2011 - 19:21 | 1927910 The Fonz
The Fonz's picture

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!

Tue, 11/29/2011 - 20:17 | 1928041 Gidas19
Gidas19's picture

Tue, 11/29/2011 - 18:31 | 1927754 tarsubil
Tue, 11/29/2011 - 21:18 | 1928145 Al Gorerhythm
Al Gorerhythm's picture

Edited comment.

It's how they roll. Up arrow.

Tue, 11/29/2011 - 17:58 | 1927626 Manthong
Manthong's picture

All is well... consumer confidence is up.

Tue, 11/29/2011 - 20:31 | 1928079 rocker
rocker's picture

 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.  

Tue, 11/29/2011 - 20:55 | 1928130 DeadFred
DeadFred's picture

He didn't pinkie swear though.

Tue, 11/29/2011 - 18:09 | 1927664 MJ
MJ's picture

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.

Tue, 11/29/2011 - 18:42 | 1927795 Steaming_Wookie_Doo
Steaming_Wookie_Doo's picture

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.

Tue, 11/29/2011 - 18:44 | 1927808 tarsubil
tarsubil's picture

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.

Wed, 11/30/2011 - 01:29 | 1928805 Calmyourself
Calmyourself's picture

Gurkha's +1

Tue, 11/29/2011 - 20:04 | 1927988 The Big Ching-aso
The Big Ching-aso's picture



"So what is everyone doing for the Bank Holidays this year?"


Watching 'It's a Wonderful Life' about fifty times.

Tue, 11/29/2011 - 20:06 | 1928014 ucsbcanuck
ucsbcanuck's picture

As opposed to watching the market and thinking "It's a Wonderful Lie"?

Tue, 11/29/2011 - 18:36 | 1927773 ucsbcanuck
ucsbcanuck's picture

Naked shorting ban coming right up. You heard it here first...

Tue, 11/29/2011 - 18:47 | 1927814 SilverIsKing
SilverIsKing's picture

I've heard that one before.  Hey, pull my finger....

Tue, 11/29/2011 - 19:01 | 1927857 equity_momo
equity_momo's picture

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.

Tue, 11/29/2011 - 20:29 | 1928073 Gidas19
Gidas19's picture

$707,568,901,000,000 represents the latest total amount of all notional OTC outstanding derivatives... why ban naked shorts?

Tue, 11/29/2011 - 17:48 | 1927575 Carlyle Groupie
Carlyle Groupie's picture

Congress people, congressional aids, senators, aids, lobbyists, lobbyists baby mommas, certain white shoe boys.

I'm certain I missed a few, no disrespect intended.

Tue, 11/29/2011 - 17:51 | 1927598 Uchtdorf
Uchtdorf's picture

None of the unwashed masses like me?

Tue, 11/29/2011 - 17:54 | 1927611 Fazzie
Fazzie's picture

 Let me check......hmmmmmm......nope. Not on the list. Hope and change! Merry Christmas!

Tue, 11/29/2011 - 19:08 | 1927869 cossack55
cossack55's picture

You forgot the US Supremes

Tue, 11/29/2011 - 17:48 | 1927573 Piranhanoia
Piranhanoia's picture

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.

Tue, 11/29/2011 - 17:54 | 1927610 Aductor
Aductor's picture

For us.

Kind regards,

The other banks

Tue, 11/29/2011 - 17:56 | 1927619 SHEEPFUKKER

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? 

Tue, 11/29/2011 - 18:25 | 1927727 SunBlaster
SunBlaster's picture

"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.

Tue, 11/29/2011 - 21:41 | 1928231 Real Money Wins
Real Money Wins's picture

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.

Tue, 11/29/2011 - 17:43 | 1927549 camaro68ss
camaro68ss's picture

Holy Shit!

We all seen this coming!

We dont need no water let the mother F**** Burn

Tue, 11/29/2011 - 17:49 | 1927578 a growing concern
a growing concern's picture

Burn, mother fuckers, burn!!!!

My puts thank you.

Tue, 11/29/2011 - 17:44 | 1927550 WonderDawg
WonderDawg's picture

Now maybe Citi will finally tank. My puts are counting on it.

Tue, 11/29/2011 - 18:40 | 1927784 ucsbcanuck
ucsbcanuck's picture

I have puts on:

BBVA (downgrade)

Santander (unchanged, with appropriate ticker symbol STD)

BAC (downgrade)

JPM (unchanged)

MS (downgrade)

It doesn't matter if a bank didn't get downgraded, because this thing is CONTAGIOUS

Tue, 11/29/2011 - 21:11 | 1928165 Sunset chaser
Sunset chaser's picture

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.



Tue, 11/29/2011 - 21:59 | 1928271 AldousHuxley
AldousHuxley's picture

watch out.


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)

Tue, 11/29/2011 - 18:29 | 1927743 johngaltfla
johngaltfla's picture

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:

Wed, 11/30/2011 - 04:40 | 1929057 i-dog
i-dog's picture

Sooo ... Jefferies, Canada and Japan are "safe", while the rest are more risky? Interesting....

Tue, 11/29/2011 - 18:57 | 1927843 ilion
ilion's picture

I guess this means that markets will rally tomorrow.

Tue, 11/29/2011 - 19:13 | 1927886 chunga
chunga's picture

Of course it will. What happened to treasuries when the U.S. got it's downgrade? Too funny.

Tue, 11/29/2011 - 19:21 | 1927907 lotsoffun
lotsoffun's picture

so this means bank stocks are cheap and a good buy?  i'd hate to miss the bottom?

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