Suck It Up Warren - Moody's Downgrades Bank Of America From A2 To Baa1

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Wed, 09/21/2011 - 12:33 | 1692862 BrocilyBeef
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might want to turn this article into a template.

Wed, 09/21/2011 - 12:35 | 1692871 SGS
SGS's picture

Morgan Stanley is next!

Wed, 09/21/2011 - 12:38 | 1692893 Irish66
Irish66's picture

GS

Wed, 09/21/2011 - 12:41 | 1692918 nope-1004
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more likely now than during the financial crisis to allow a large bank to fail

Was I asleep for 4 years or something?  When did the financial crisis end?

 

Wed, 09/21/2011 - 12:44 | 1692931 BrocilyBeef
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*intermission* Dah-du-dah! popcorn++

Wed, 09/21/2011 - 12:49 | 1692966 Careless Whisper
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what's the over/under for a new 52 week low for JPM today?

 

Wed, 09/21/2011 - 12:56 | 1693001 fuu
fuu's picture

That would be awesome.

Wed, 09/21/2011 - 12:57 | 1693009 BrocilyBeef
BrocilyBeef's picture

Ohh about...

over under a magical feat often depicted in pornos where a both a female's vag and poop shoot are pounded simultaneously

also known as: double penetration; one in the fridge, one in the freezer; mr. jones, mr. anderson; double stuffed; and ball banging (bc the dudes balls often touch) when we proposed the over under to gina, she smiled, dropped her draws, and said "lets get ballz deep". http://www.urbandictionary.com/define.php?term=over%20under

Wed, 09/21/2011 - 12:58 | 1693012 SGS
SGS's picture

BOA - "We disagree with Moodys"

 

No shit captain fucking obvious.

Wed, 09/21/2011 - 12:52 | 1692980 Shocker
Shocker's picture

Yes the financial Crisis ended in 2009, this is old news :) heheheeh

Wed, 09/21/2011 - 12:47 | 1692955 Irish66
Irish66's picture

break 100?

Wed, 09/21/2011 - 12:56 | 1693004 scatterbrains
scatterbrains's picture

MF mofo's

Wed, 09/21/2011 - 12:39 | 1692902 Coldfire
Coldfire's picture

One zombie at a time. Has-been Moron Stanley's time will come, sure enough.

Wed, 09/21/2011 - 12:40 | 1692916 BrocilyBeef
BrocilyBeef's picture

You can also lose in musical chairs when your seat blows up. Money velocity, bitchez.

A lot of history needs to be written. A lot of plot threads need to come together. Finish the movie!

Wed, 09/21/2011 - 13:28 | 1692975 Don Birnam
Don Birnam's picture

"Aw, dammit -- where's Becky's rubber ducky ?! Darn it all. And she even autographed it in indelible marker. Where's that manservant of mine who pays a higher marginal rate than I do...Jeeves ! Fetch me a Cherry Coke ! Time for some crisis thinking."

http://www.mogulite.com/wp-content/uploads/2011/08/Warren-Buffett-Bath.jpg

 

Wed, 09/21/2011 - 13:28 | 1693238 Tater Salad
Tater Salad's picture

Bend over Oracle of Obama, this is going to hurt you more than me...!

Wed, 09/21/2011 - 14:01 | 1693404 Todd Horlbeck
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Warren Buffett's logic is that BAC is backstoped by the US government. This does not mean the stock can't be valued at 0, it can.  Remember, Buffett has preferred stock that has been treated more favorably at times. Remeber certain Citigroup preferreds?

I wouldn't write off his investment so quickly, but that does not mean the common stock holder can't be wiped out. (And I think they will be crushed).

The most striking thing about this is that the only way for BAC to get out of this mess is to lend their way out.  All I have seen them do is cut their capacity to lend.

If you have 5% in bad loans, the fastest way to fix it is to double the amount you lend.  That 5% becomes 2.5%.  BAC is in big trouble if they won't/can't lend.

 

Wed, 09/21/2011 - 12:33 | 1692863 Irish66
Irish66's picture

should be at 5

Wed, 09/21/2011 - 12:33 | 1692865 ZeroPower
ZeroPower's picture

Warren's $$ taken to the washers

Wed, 09/21/2011 - 12:59 | 1693026 Mr Lennon Hendrix
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+1

Wed, 09/21/2011 - 12:45 | 1692873 Mercury
Mercury's picture

I don't think Buffett's looking to flip these things...He's still getting 6% and a par cash-out +5% additional if BAC wants to pull the plug?

His warrents are out-of-the-money but he's still doing OK here.

Wed, 09/21/2011 - 12:45 | 1692946 JSD
JSD's picture

Warren is "...doing OK here." regardless of what BAC (Bank of Atlantic City) does. However, I'm less convicnced of that fact being the point. 

Wed, 09/21/2011 - 12:53 | 1692990 Mercury
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Hey, just because Obama took his campaign contribution out in trade from the old man (PR mostly) doesn't mean that shit doesn't talk like real money.  I doubt BRK takes a bath on this even if BAC really goes under.

Wed, 09/21/2011 - 13:02 | 1693041 Mr Lennon Hendrix
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The illuminatti does not think in dollar amounts, they think in terms of their power to continue the status quo.

Wed, 09/21/2011 - 12:36 | 1692875 FunkyMonkeyBoy
FunkyMonkeyBoy's picture

I'd love to see that old cretin die broke... but that's just me.

Wed, 09/21/2011 - 12:40 | 1692906 Belarus
Belarus's picture

Were it not for his buddies in Govt. and the Fed, he would be broke already. It' no wonder he sucks Ben's dick every time he orally, ergo, speaks of him. He has become one of the greatest American Baffoons only interested in preserving his self-serving and fragile ego at all costs.  

Wed, 09/21/2011 - 12:43 | 1692927 I Got Worms
I Got Worms's picture

Once that old bastard craps his adult diapers for the last time, the USA will be better off.

Wed, 09/21/2011 - 12:44 | 1692932 BungaBunga
BungaBunga's picture

Maybe Warren knew all along the special tax for millionaires would not apply to himself.

Wed, 09/21/2011 - 12:59 | 1693017 NotApplicable
NotApplicable's picture

Well, of course. It is an income tax, after all. Uncle Warren only earns $100k per year in income.

Wed, 09/21/2011 - 13:34 | 1693266 mirac
mirac's picture

Didn't Warren and Bill Gates put 30 billion each into a trust together a couple of years ago...that was the tax dodge

Wed, 09/21/2011 - 12:44 | 1692933 Clueless Economist
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Warren is the poster boy of Crony Capitalism

Wed, 09/21/2011 - 12:50 | 1692974 GeneMarchbanks
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This will probably be the only time in my life I will think of Buffett and smile...

Wed, 09/21/2011 - 12:46 | 1692949 JSD
JSD's picture

Why so serious?

Wed, 09/21/2011 - 13:41 | 1693309 skree
skree's picture

These old rich bastards never die.

Wed, 09/21/2011 - 15:22 | 1693955 Incubus
Incubus's picture

You can't die broke once you've reached a certain level of recognition.

 

FFS, the guy could go on tv shows and only tv shows and still earn more than you or I. He could bag his shit and sell it for 2,000 dollars a bag, and someone in the world would buy it.

Wed, 09/21/2011 - 12:36 | 1692876 heywood jablowme
heywood jablowme's picture

Time for a major collateral call.

Wed, 09/21/2011 - 12:36 | 1692877 jdelano
jdelano's picture

I see the Tylers have recently discovered espresso.  Or meth.  

Wed, 09/21/2011 - 12:43 | 1692923 BrocilyBeef
BrocilyBeef's picture

Espresso meth? Sounds expensive.

Wed, 09/21/2011 - 12:37 | 1692882 dwdollar
dwdollar's picture

Last minute fear mongering...

Wed, 09/21/2011 - 12:39 | 1692904 Spitzer
Spitzer's picture

FAZ just got a boner

Wed, 09/21/2011 - 12:36 | 1692883 Coldfire
Coldfire's picture

Bury this foetid fucker, already. It's stinking up the joint somethin' fierce.

Wed, 09/21/2011 - 12:37 | 1692884 doomandbloom
doomandbloom's picture

out of bathtub....into the toilet

Wed, 09/21/2011 - 12:38 | 1692891 Volaille de Bresse
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Shhhhhhhhhhh... don't tell Reggie Middleton! ;-)

Wed, 09/21/2011 - 12:38 | 1692894 GittyUP
GittyUP's picture

Isnt buffet getting a redic coupon payment on his preferred shares?  I think he is still smiling from ear to ear regardless of share price. 

Wed, 09/21/2011 - 12:38 | 1692895 Dick Darlington
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systemically important financial institutions

Lord i hate that phrase! Why don't these idiots call them what they are. A cancer in the body of society.

Wed, 09/21/2011 - 12:42 | 1692920 BrocilyBeef
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save the patient?

Wed, 09/21/2011 - 12:38 | 1692898 TradingJoe
TradingJoe's picture

To(a)st itos anyone?!?!?

PS Warren is not even close in trouble, he's got the Midas(Gov) Touch!

Wed, 09/21/2011 - 12:38 | 1692899 depression
depression's picture

ridiculous rationale

BOA will be defended

Wed, 09/21/2011 - 12:40 | 1692911 dwdollar
dwdollar's picture

Yep. I'll believe otherwise when pigs fly.

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