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(Daily Kos)   Pass the strudel and blow your flugelhorns: Court in Australia finds Standard & Poors misled and deceived investors in the financial collapse   (dailykos.com ) divider line
    More: Cool, Australians, ABN AMRO, credit ratings, Health Care, International, financial derivatives, landmark case, Sydney Morning Herald, mortgage securities  
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1025 clicks; posted to Politics » on 05 Nov 2012 at 3:41 PM (3 years ago)   |   Favorite    |   share:  Share on Twitter share via Email Share on Facebook   more»



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2012-11-05 09:18:41 AM  
oo you could put another pastrey on the barbie
 
2012-11-05 12:17:16 PM  
Is this one of those factual Daily Kos articles, or one of the sensationalist Kos articles?
 
2012-11-05 01:34:04 PM  
Now I can't stop singing "Pass the strudel 'pon the left hand side..."
 
2012-11-05 03:00:31 PM  

1.bp.blogspot.com

 
2012-11-05 03:44:28 PM  
FYI Romney thinks they were too well regulated, and that's why they basically committed fraud. Too much regulation.
 
2012-11-05 03:46:41 PM  

Shvetz: FYI Romney thinks they were too well regulated, and that's why they basically committed fraud. Too much regulation.


Of course. If there aren't laws against fraud, how you can you possibly commit fraud?
 
2012-11-05 03:47:20 PM  
"strudel and blow your flugelhorns"

confused with Austria?

Don't worry though...it is only a 12k mile and a complete language difference.

At least you got the planet correct. So there is that.
 
2012-11-05 03:49:01 PM  

homelessdude: "strudel and blow your flugelhorns"

confused with Austria?

Don't worry though...it is only a 12k mile and a complete language difference.

At least you got the planet correct. So there is that.


+1
 
2012-11-05 03:49:27 PM  

homelessdude: "strudel and blow your flugelhorns"

confused with Austria?

Don't worry though...it is only a 12k mile and a complete language difference.

At least you got the planet correct. So there is that.


You know who else invaded New Zealand?

// the camps for hobbits was a good plan - only needed to be 1/4 the size
// also, the farkers could barely focus - they needed some intensive therapy for attention deficits
// that's why the camps were for the purpose of concentration
 
2012-11-05 03:50:12 PM  

homelessdude: "strudel and blow your flugelhorns"

confused with Austria?

Don't worry though...it is only a 12k mile and a complete language difference.

At least you got the planet correct. So there is that.


[thats-the-joke.jpg]
 
2012-11-05 03:50:27 PM  

homelessdude: "strudel and blow your flugelhorns"

confused with Austria?

Don't worry though...it is only a 12k mile and a complete language difference.

At least you got the planet correct. So there is that.


Welcome to Fark.
 
2012-11-05 03:50:57 PM  
homelessdude: "strudel and blow your flugelhorns"

confused with Austria?

Don't worry though...it is only a 12k mile and a complete language difference.

At least you got the planet correct. So there is that.


McBainRedBrickWall.jpg
 
2012-11-05 03:51:02 PM  

homelessdude: "strudel and blow your flugelhorns"

confused with Austria?

Don't worry though...it is only a 12k mile and a complete language difference.

At least you got the planet correct. So there is that.


thatsthejoke.jpg...right up there with Marine Core, Vodak, and Rotsky!
 
2012-11-05 03:53:12 PM  
So this is how the law ultimately reigns in the banks, eh? Go after and convict the ratings agencies. If the S&Ps of the world are too afraid to rate junk as anything other than junk, so be it. My sympathy for the banks is all that it should be...i.e., none to speak of.

Reminds me of how the Feds ultimately imprisoned Al Capone. They couldn't get him on murder, extortion and racketeering, so they squeezed his bookkeeper until they got him for tax evasion. Dude rotted at Alcatraz until he died of syphilis.
 
2012-11-05 03:53:19 PM  
Heh...damn we ganged up quick.
 
2012-11-05 03:53:53 PM  
No one who speaks German could be an evil man.
 
2012-11-05 03:55:00 PM  
But, but, but... I was told that it was big fat gay Barney Frank and his evil powers of gay gayness that forced investors to lend money to poor minorities that caused this bubble. That article implies two things:

1. Investors invested trillions into mortgage's not because Barney Frank forced them to but because the investments were rated AAA

2. Barney Frank's powerful powers of gay gayness forced not only investors to lend money to poor minorities in America, Barney Frank forced investors to invest in mortgages across the globe.
 
2012-11-05 03:55:09 PM  

homelessdude: "strudel and blow your flugelhorns"

confused with Austria?

Don't worry though...it is only a 12k mile and a complete language difference.

At least you got the planet correct. So there is that.


Its a fark meme.......
 
2012-11-05 04:03:28 PM  
i2.kym-cdn.com
 
2012-11-05 04:03:33 PM  

Tellingthem: Heh...damn we ganged up quick.


Also, I think you got trolled.

He's got an account in the 160,000s, I assume he knows about the mix up meme and is countering with the obvious troll, but it's just a guess.
 
2012-11-05 04:05:42 PM  
This thread challenges everything I know about Fark.

Can someone please insult my mother?
 
2012-11-05 04:07:30 PM  

starsrift: This thread challenges everything I know about Fark.

Can someone please insult my mother?


Yo mama so poor, S&P rated her AA+
 
2012-11-05 04:11:07 PM  

Mayhem of the Black Underclass: damn we ganged up quick.
Also, I think you got trolled.
He's got an account in the 160,000s, I assume he knows about the mix up meme and is countering with the obvious troll, but it's just a guess



heh heh ...no I fell for the troll. serves me right for trying to do the "correct the headline" bashing thing. I guess I can't keep up with all the memes.

/d'oh
 
2012-11-05 04:15:08 PM  
You know who else was from Australia...?
 
2012-11-05 04:17:01 PM  
I did nazi that coming.
 
2012-11-05 04:21:02 PM  

ArkPanda: starsrift: This thread challenges everything I know about Fark.

Can someone please insult my mother?

Yo mama so poor, S&P rated her AA+


Yo mama so dumb, she asked me to call Tom-Tom for directions-directions.
 
2012-11-05 04:24:23 PM  

ArkPanda: starsrift: This thread challenges everything I know about Fark.

Can someone please insult my mother?

Yo mama so poor, S&P rated her AA+


Wow. Excellent.

citizenkaneclap.gif
 
2012-11-05 04:24:59 PM  

badLogic: I did nazi that coming.


Anne Frankely, it seems to have fooled some people.
 
2012-11-05 04:28:58 PM  

Epoch_Zero: [i2.kym-cdn.com image 201x199]


I don't know whether to post the McBain "That's the joke" pic or the Philip Fry "I see that you did there" pic.
 
2012-11-05 04:30:16 PM  

Debeo Summa Credo: ArkPanda: starsrift: This thread challenges everything I know about Fark.

Can someone please insult my mother?

Yo mama so poor, S&P rated her AA+

Wow. Excellent.

citizenkaneclap.gif


It really was.
 
2012-11-05 04:31:32 PM  
Hopefully, this is a start of a trend.

Because a "ratings agency" giving the incorrect ratings is FRAUD.

And the cascading consequences are profound.

This would be like your doctor saying you have cancer, when you don't.
Or saying this pharmacy is excellent, and you should buy all the meds you want there.
Or in a more positive context, as they did here...saying you have a 12 inch dick, when you do NOT.
 
2012-11-05 04:35:16 PM  

rogue49: Hopefully, this is a start of a trend.

Because a "ratings agency" giving the incorrect ratings is FRAUD.

And the cascading consequences are profound.

This would be like your doctor saying you have cancer, when you don't.
Or saying this pharmacy is excellent, and you should buy all the meds you want there.
Or in a more positive context, as they did here...saying you have a 12 inch dick, when you do NOT.


If your doctor thought you had cancer and you didn't, that's not fraud. Neither is what S&P did, if they thought the security was safe, which is why this will likely be overturned on appeal.

Although who knows what goes on in the courts of those alpine skiing bozos over there.
 
2012-11-05 04:49:19 PM  
As a conservative, this is a good thing. The credit agencies committed what was at best gross negligence. The laws need to be rewritten so that the people buying the security pay for the rating, not the issuer.
 
2012-11-05 04:50:12 PM  

Tellingthem: homelessdude: "strudel and blow your flugelhorns"

confused with Austria?

Don't worry though...it is only a 12k mile and a complete language difference.

At least you got the planet correct. So there is that.

thatsthejoke.jpg...right up there with Marine Core, Vodak, and Rotsky!


I thought it was corpseman
 
2012-11-05 04:54:47 PM  

beta_plus: As a conservative, this is a good thing. The credit agencies committed what was at best gross negligence. The laws need to be rewritten so that the people buying the security pay for the rating, not the issuer.


Not that simple. Say I own a bunch of XYZ CDO. If I were getting a rating on that security, wouldn't I want a high rating so I could show that to any potential buyers? Conversely, if I wanted to buy ABC CDO, wouldn't I want a low rating so I could tell the seller "your bond sucks, sell it to me for cheap". Conflict of interest is not diminished at all.
 
2012-11-05 04:57:46 PM  

starsrift: Debeo Summa Credo: ArkPanda: starsrift: This thread challenges everything I know about Fark.

Can someone please insult my mother?

Yo mama so poor, S&P rated her AA+

Wow. Excellent.

citizenkaneclap.gif

It really was.


I'm leaving now but I have to gush over this joke again.

Really quick and witty. I'm stealing it if the opportunity comes up.

ArkPanda wins the internets for today as far as I'm concerned. .
 
2012-11-05 04:59:24 PM  

beta_plus: As a conservative, this is a good thing. The credit agencies committed what was at best gross negligence. The laws need to be rewritten so that the people buying the security pay for the rating, not the issuer.


Punish the buyer, not the company responsible for defrauding the buyer. Sounds about right.
 
2012-11-05 05:18:03 PM  
These guys are the real villains of the crash.
 
2012-11-05 05:19:15 PM  

Debeo Summa Credo: starsrift: Debeo Summa Credo: ArkPanda: starsrift: This thread challenges everything I know about Fark.

Can someone please insult my mother?

Yo mama so poor, S&P rated her AA+

Wow. Excellent.

citizenkaneclap.gif

It really was.

I'm leaving now but I have to gush over this joke again.

Really quick and witty. I'm stealing it if the opportunity comes up.

ArkPanda wins the internets for today as far as I'm concerned. .


I came
 
2012-11-05 05:29:18 PM  
The Berghoff in Chicago has the best strudel I have ever had. Try it out.
 
2012-11-05 05:29:22 PM  

StoneColdAtheist: So this is how the law ultimately reigns in the banks, eh? Go after and convict the ratings agencies. If the S&Ps of the world are too afraid to rate junk as anything other than junk, so be it. My sympathy for the banks is all that it should be...i.e., none to speak of.

Reminds me of how the Feds ultimately imprisoned Al Capone. They couldn't get him on murder, extortion and racketeering, so they squeezed his bookkeeper until they got him for tax evasion. Dude rotted at Alcatraz until he died of syphilis.


The Ratings agencies should be strung up for their role in the financial crisis, as they were probably the biggest culprit in the meltdown. They weren't being bullied by the big banks to rate crap assets as AAA investments, they were doing it because they were getting a taste of the action. And it's not that they were rating something "anything other than junk", they were rating pure crap as AAA investments.
 
2012-11-05 05:32:08 PM  

bootman: But, but, but... I was told that it was big fat gay Barney Frank and his evil powers of gay gayness that forced investors to lend money to poor minorities that caused this bubble. That article implies two things:

1. Investors invested trillions into mortgage's not because Barney Frank forced them to but because the investments were rated AAA

2. Barney Frank's powerful powers of gay gayness forced not only investors to lend money to poor minorities in America, Barney Frank forced investors to invest in mortgages across the globe.


I heard "blah" people buying big houses is the reason why S&P and Moody's was rating crap as AAA, and the reason why Lehman Bros was leveraged 30:1.
 
2012-11-05 05:37:47 PM  
OK.

userserve-ak.last.fm
 
2012-11-05 05:52:47 PM  

RocketRay: OK.

[userserve-ak.last.fm image 252x352]


Came for this.

/Feels so good.
 
2012-11-05 06:19:33 PM  

InmanRoshi: bootman: But, but, but... I was told that it was big fat gay Barney Frank and his evil powers of gay gayness that forced investors to lend money to poor minorities that caused this bubble. That article implies two things:

1. Investors invested trillions into mortgage's not because Barney Frank forced them to but because the investments were rated AAA

2. Barney Frank's powerful powers of gay gayness forced not only investors to lend money to poor minorities in America, Barney Frank forced investors to invest in mortgages across the globe.

I heard "blah" people buying big houses is the reason why S&P and Moody's was rating crap as AAA, and the reason why Lehman Bros was leveraged 30:1.


I always knew it was the rating agencies and lehman's fault that people bought houses over their head and the reason Fannie and Freddie will cost taxpayers over $200b.

The WSJ oped page said for years that fannie/Freddie were ticking time bombs, but Barney frank couldn't have been wrong! It must have been those greedy bankers again. Making Barney frank's GSEs and those blah people waste all their money!!
 
2012-11-05 06:24:20 PM  
Funny how they're going after Standard and Poors and Moody's, you know, instead of the actual banks who manipulated the fark out of the MBS to point where it would've taken months to give the security a proper rating so in pressure, the rating agency just took the banks word for it and assigned them AAA.
 
2012-11-05 06:42:27 PM  
Daily Kos is like a cross between the Drudge Report/American Thinker/Info Wars

with high quality reporting like this, they should be on to the where-abouts of Bat Boy any day now.
 
2012-11-05 06:53:14 PM  
img.chan4chan.com
 
2012-11-05 07:44:19 PM  
Those Aussies, with their poisonous snakes and their lederhosen!!
 
2012-11-05 08:02:06 PM  
RICOLA! mate?
 
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