Dear S&P,

Welcome to six months ago.

Love,
The Market

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??!

I'll bid $5 on Carjackistan

Every Van Gogh MUST GO!

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

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.

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

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.

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

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.

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.

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?

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

I can understand France, but why Austria?

also confused on Slovenia and Slovakia

LOL France welcome to AA+

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?

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?

dumbobruni: I can understand France, but why Austria?

Austria?

They pissed offed Paul Krugman.

/bada bing

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.

I see Madagascar survived yet another round of S & P cuts ...

Isolationist bastards!

/Obscure?