A Week After Madeira-Gate, Moody's Downgrades Them to B3

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Thu, 09/22/2011 - 18:44 | 1699165 prophet
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Thu, 09/22/2011 - 18:46 | 1699173 frugartarian
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Contagion in 3...2..1..

Thu, 09/22/2011 - 18:48 | 1699180 Yamaha
Yamaha's picture

Hold on to your butttttttts! When they recognize it - we are all f_____ed!

Thu, 09/22/2011 - 18:49 | 1699181 JailBank
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Wait I thought the Brenanke said that soveign debt was contained two years ago? Oh shit son looks like all SHTF!

Thu, 09/22/2011 - 18:48 | 1699182 Global Hunter
Global Hunter's picture

Greece going to be well pissed off if Madeira takes this ship down!

Thu, 09/22/2011 - 19:34 | 1699305 knukles
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What with no austerity packages to take.
Yooo hoo!  We're home!

Thu, 09/22/2011 - 19:36 | 1699313 Rodent Freikorps
Rodent Freikorps's picture

Portugal owns Madeira.

Thu, 09/22/2011 - 19:56 | 1699354 knukles
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Sell it to Greece and contain the contagion.

(Sounds like a next EuroVision Song Contest Winner: "Contain the Contagion")

Thu, 09/22/2011 - 21:20 | 1699545 Mallenet
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Show me the receipt!

Thu, 09/22/2011 - 18:49 | 1699183 The Fonz...befo...
The Fonz...before shark jump's picture

Wow Moody's has a lot of balls when it's a little island.... The cowardly bully afraid to give a proper rating to the USA

Thu, 09/22/2011 - 18:59 | 1699224 Cliff Claven Cheers
Cliff Claven Cheers's picture

I second that one.

Thu, 09/22/2011 - 19:50 | 1699333 knukles
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Every country is an island.

Every island needs a village.

Every village has its idiot.


Lucky us.
(wheezing sounds)

Thu, 09/22/2011 - 21:19 | 1699539 Mallenet
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Hey - takes one to know one!

Glad to know there is another one here: I was feeling lonely until you came along!

Thu, 09/22/2011 - 18:52 | 1699196 Blorf
Blorf's picture

Well, that does it! No more Spanish autonomous region bond ETFs for me. My broker at GS said the symbol was FXE and was a "sure bet".

Thu, 09/22/2011 - 18:52 | 1699197 wannabe traitor
wannabe traitor's picture

flying into and from their airport is one hell of a RUSH!

Thu, 09/22/2011 - 20:14 | 1699393 Captain Willard
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Yes it is!

But that runway and new airport were not cheap. And neither was the causeway from the airport to Funchal (dug through solid rock much of the way).

Now we know where some of the money went anyway.

At least the Madeirans got a new ariport out of all of it. In America we spent $800 Billion and not a single fucking thing has gotten built. But the Oval Office got re-decorated. So that's something I guess.

Fri, 09/23/2011 - 02:13 | 1700116 jeff montanye
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you make an excellent point.  your spending figure may possibly understate things by a power of ten or so.

Thu, 09/22/2011 - 18:53 | 1699201 FOC 1183
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two words: fortified booze

Thu, 09/22/2011 - 19:03 | 1699205 Alvaro de Esteban
Alvaro de Esteban's picture

Wait and see what´s hidden in Spain...

But not so sure that the future government will have the balls of telling the truth

Has Mr. Draghi a holiday home in the island???

Thu, 09/22/2011 - 18:55 | 1699207 navy62802
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I visited Madeira Island on my last deployment. Very pleasant place to visit if you ever get the chance.

Thu, 09/22/2011 - 18:57 | 1699212 PulauHantu29
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"Anomaly"..like Enron's "anomalies."

Thu, 09/22/2011 - 19:10 | 1699242 Sequitur
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TBTF = Enron's "Tier One" banks: http://www.youtube.com/watch?v=9zxAJO7owy8

Thu, 09/22/2011 - 19:51 | 1699338 knukles
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temporal transitional anomoly

Thu, 09/22/2011 - 19:00 | 1699214 mynhair
mynhair's picture

Crap, I luv a good Madeira.

Doesn't store well, tho.

Prolly cuz Iz drinks it.


Thu, 09/22/2011 - 19:02 | 1699229 RobotTrader
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If Moody's downgrades Uncle Gorilla Bonds, then the 30-yr. yield is most certainly going to go to 2.1% and the 10-yr. to 0.90%

Thu, 09/22/2011 - 19:23 | 1699276 mynhair
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Your ratings don't affect you, do they?  So why should others matter?

Thu, 09/22/2011 - 19:52 | 1699340 knukles
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Thu, 09/22/2011 - 22:06 | 1699678 riley martini
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 The 30 y is going to $155 downgrade or not via the Twist.

 No one cares about the yield they are just trying to time the top 155 or 165.

Thu, 09/22/2011 - 19:04 | 1699232 zorba THE GREEK
zorba THE GREEK's picture

This is disgusting, misreporting their debts. Are the Greeks the only honest people left?

Thu, 09/22/2011 - 19:14 | 1699250 Sequitur
Sequitur's picture

Does this have anything to do with Cheesecake Factory's Chicken Madeira?


Thu, 09/22/2011 - 19:18 | 1699265 jdelano
jdelano's picture

Just got done watching Tom Keene interview lagarde. Going by her body language, either her bowels released right before the interview began or her anxiety level is a notch above un-sedated schizophrenic. Stunning to consider that the burden of saving the world rests on literally a half dozen shoulders. Don't see how they can possibly pull it off. We're fucked.

Thu, 09/22/2011 - 20:41 | 1699453 Mallenet
Mallenet's picture

She is French - a land where a bottom-burp translates to 'I love you, or I would never have released in front of you': and that is why they have so many screwed up relationships with farm animals!

Thu, 09/22/2011 - 19:55 | 1699344 Edward Fiatski
Edward Fiatski's picture

EUR at 1.3 by next week's end.

P.S. Lots of news not being priced in lately, let's see if reality sets in this Friday, though there's a chance of a sucker's rally into the weekend on Hopium - excellente fade grandeur.

Thu, 09/22/2011 - 19:58 | 1699358 Buck Johnson
Buck Johnson's picture

Everyone is starting to figure out that the nations are hiding and lying their debt in order to look good.  When in reality they are insolvent as hell.

Thu, 09/22/2011 - 19:58 | 1699359 Mallenet
Mallenet's picture

Jersey (the original one, not the one we sold to America) has a population of close to 25% 'Portugues' - most from the island of Madeira.  Did you see the movie 'Scare-Face': same deal - they unloaded drug dealers and we got 'cheap' labour for hotels and restuarants.  Now 80% of crime is reported with names that are not local, not English or French: they are all Portugues.  Rape, Murder, Drugs, Protitution - simple beatings - all the same 'nationality'!  People who have lived in an island of 85,000 population know no English after 30+ years!  Their children (educated for 20 years for free) sound like illegal boat people!  Then the Polish workforce comes and speak perfect English, do a great job, want to work and are victimised by who: Madeiran's!

Madeira is Cuba - without a reason to be!  People of Madeira are thieves, drug lords, people trafficers and child molesters: I want to shot them all on sight!

But hey - I like killing animals!

Thu, 09/22/2011 - 20:01 | 1699364 Edward Fiatski
Edward Fiatski's picture

Fucking piece o chit cockaroaches and their motherfucking debts.

Thu, 09/22/2011 - 20:09 | 1699380 celticgold
celticgold's picture

hey mallenet , FYI the cubans are one of the most honest , hard working , healthy, happy and law abiding populations on the planet , AND the women are HOT , so back off buddy!

Thu, 09/22/2011 - 20:36 | 1699445 Mallenet
Mallenet's picture

BUT - I have a little friend, do you want to meet my little friend!

Only Al can make having a small one sound big!

Thu, 09/22/2011 - 20:32 | 1699433 Mallenet
Mallenet's picture

Cheers Pal, you just educated me: I always thought Cubans were sweaty, lazy and Cigar rolling drug dealers - just goes to show how wrong I can be: please do not take my investment advice, comments or even opinions as fact, I will probably be just as wrong!  I hope you and your family remain free of man made hell for as long as is possible!

Thu, 09/22/2011 - 20:41 | 1699455 Zaphod B.
Zaphod B.'s picture

          Madeira   =   Made IRA

Thu, 09/22/2011 - 20:48 | 1699465 Mallenet
Mallenet's picture

How wrong you are: USA Funded IRA bombings of shopping centres for 30 years until USA got Bombed by terrorists = British women & children x 30 years matter less than American Bankers in Twin Towers x 1 time (simple math)!

Thu, 09/22/2011 - 20:51 | 1699470 Mallenet
Mallenet's picture

And lets face it - today if you kill a banker you are qualified as a pest controller!

Thu, 09/22/2011 - 20:59 | 1699489 The Fonz...befo...
The Fonz...before shark jump's picture

Plus 1 for MallenetLol well said but I would add regulators, the fed, bureaucrats, rating agencies, politicians, analysts and Timothy Geitner

Thu, 09/22/2011 - 21:32 | 1699581 Mallenet
Mallenet's picture

Ta for the compliment - but your list is shorter than my 'dream' - you only deal with an area that is the United Supporters (of mafia) America: my view is global: places where a bullet (death) is welcome, food is unexpected and humanity - of any kind - is not even a dream.

But I have seen some of that in the "us of a" (small caps intended), so go home and fix what you can: the rest of the world will do well without your ignorance.  When you learn to learn, give us a call - we may even answer!

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