FARK.com: (6876566) S&P is having a fire sale. All European countries HALF-OFF

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		S&P is having a fire sale. All European countries HALF-OFF (cnbc.com)		25
		More: Obvious, fire sale, European countries

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1290 clicks; posted to Business » on 13 Jan 2012 at 2:32 PM | Favorite | share:

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Bukharin		2012-01-13 12:20:51 PM

vaderstg		2012-01-13 02:36:54 PM

Dear S&P,

Welcome to six months ago.

Love,
The Market

Negligible		2012-01-13 02:38:49 PM

Are we to the point where EVERYONE PANIC? How about singing the Doom song? Is it time to crack open our neighbor's skulls and feast on the goo inside? Canned good and ammo? Pants wetting?

WHICH LEVEL OF ARTIFICIAL SCARED SHOULD I EXHIBIT??!

Gaumond		2012-01-13 02:40:10 PM

vaderstg: Dear S&P,

Welcome to six months ago.

Love,
The Market

This is the same same agency that said Fannie Mae and Freddie Mac were golden. How did that turn out because I really don't remember?

Smeggy Smurf		2012-01-13 02:43:23 PM

I'll bid $5 on Carjackistan

tillerman35		2012-01-13 02:44:59 PM

Every Van Gogh MUST GO!

MrEricSir		2012-01-13 02:48:06 PM

Standard & Poor's: Setting a poor standard since 1860.

vaderstg		2012-01-13 02:49:44 PM

Gaumond: This is the same same agency that said Fannie Mae and Freddie Mac were golden. How did that turn out because I really don't remember?

Mr. Market took care of them too.

Gaumond		2012-01-13 03:01:09 PM

vaderstg: Gaumond: This is the same same agency that said Fannie Mae and Freddie Mac were golden. How did that turn out because I really don't remember?

Mr. Market took care of them too.

Yeah exactly. I pretty much have no respect for rating agencies either, there all in collusion anyway.

Where is my tinfoil hat?

You're the jerk... jerk		2012-01-13 03:01:37 PM

vaderstg: Dear S&P,

Welcome to six months ago.

Love,
The Market

Don't worry I am sure some farkers will come in and blame this for tanking Europe's economy

Splinshints		2012-01-13 03:02:33 PM

Negligible: WHICH LEVEL OF ARTIFICIAL SCARED SHOULD I EXHIBIT??!

I don't know. What level of artificial scared were you when it was the U.S. farking things up with our mortgage crisis? This European debt nonsense is pretty much the same level of fail.

/ the amount of care I assign to most of what Standard & Poor's says could easily fit between two pinched fingers.

Lost Thought 00		2012-01-13 03:13:58 PM

If the markets are capable of already pricing in your ratings adjustments before you make them, do you really exist?

Goodfella		2012-01-13 03:57:21 PM

You're the jerk... jerk: vaderstg: Dear S&P,

Welcome to six months ago.

Love,
The Market

Don't worry I am sure some farkers will come in and blame this for tanking Europe's economy

Of course. The time tested tactic of shooting the messenger. And not the banks who gambled a bunch of money and lost it, and then inflict austerity measures on the population to pay for their gambling debts.

Arkanaut		2012-01-13 04:02:57 PM

Lost Thought 00: If the markets are capable of already pricing in your ratings adjustments before you make them, do you really exist?

Plus, most big investment firms have their own research departments that go far more in depth than the ratings agencies.

vaderstg		2012-01-13 04:07:23 PM

Goodfella: And not the banks who gambled a bunch of money and lost it, and then inflict austerity measures on the population to pay for their gambling debts.

Careful here - The way Basel II (or 3? I can't remember) was written basically forced these banks to buy sovereign debt. Because the ratings agencies were so SLOW in downgrading Eurozone debt to crap - the banks were simply abiding by the rules that the nations laid out for them with their investments in "risk free" notes/bills/bonds.

If I force you to place your money into an investment (say, in my banana stand) and I similarly order you to consider that investment as risk-free and carry it that way on your books - once I lose all your money, should you be chastised for "gambling" your money away?

AliceBToklasLives		2012-01-13 04:16:51 PM

vaderstg: Goodfella: And not the banks who gambled a bunch of money and lost it, and then inflict austerity measures on the population to pay for their gambling debts.

Careful here - The way Basel II (or 3? I can't remember) was written basically forced these banks to buy sovereign debt. Because the ratings agencies were so SLOW in downgrading Eurozone debt to crap - the banks were simply abiding by the rules that the nations laid out for them with their investments in "risk free" notes/bills/bonds.

If I force you to place your money into an investment (say, in my banana stand) and I similarly order you to consider that investment as risk-free and carry it that way on your books - once I lose all your money, should you be chastised for "gambling" your money away?

S&P forgot that Austria always has the banana stand

a1.twimg.com

Infamous El Guapo		2012-01-13 04:20:21 PM

Bukharin: [theozzone.com image 175x145]

I see this is taken care of- I'll be off.

dumbobruni		2012-01-13 04:51:46 PM

I can understand France, but why Austria?

dumbobruni		2012-01-13 06:31:49 PM

also confused on Slovenia and Slovakia

Funk Brothers		2012-01-13 06:45:51 PM

LOL France welcome to AA+

Why Yes I Am A Wizard		2012-01-13 08:15:22 PM

Well since we keep kicking the problem down the line as it snowballs, I guess this shouldn't come as a complete surprise.

Riddle me this: Why is a person smart, but people are idiots?

CognaciousThunk		2012-01-13 09:45:02 PM

The Low Countries are sitting there with their fingers in ears, eyes closed, chanting "nanananananana" and waiting for the shiatstorm to pass.

/Malta downgraded? MALTA?

Al Hashshashin		2012-01-14 02:27:14 AM

dumbobruni: I can understand France, but why Austria?

Austria?

They pissed offed Paul Krugman.

/bada bing

Mad_Radhu		2012-01-14 05:02:15 AM

CognaciousThunk: The Low Countries are sitting there with their fingers in ears, eyes closed, chanting "nanananananana" and waiting for the shiatstorm to pass.

/Malta downgraded? MALTA?

Falcons just aren't worth what they used to be back in the 30s.