Posted on 11/29/2011 2:21:33 PM PST by Typical_Whitey
FXstreet.com (Barcelona) - S&P rating agency has just downgraded 37 global banks. Goldman, BofA, Citigroup, Morgan Stanley, BNY Mellon are amongst the cuts based on a new methodology. Japanese and UK banks cut or outlook lowered as well.
(Excerpt) Read more at fxstreet.com ...
**** That is because most of them are part of the corrupt system. And the rest are not educated enough on the matter to say a word. I dont feel sorry for these bankers. They did it to themselves. They did it to us. With all there get rich quick schemes that backfired as simple math would dictate. Even the bailouts which our children would theoretically pay for, Could not save them. But at least they had people well planted in justice so that they could not go to jail.****
I call them plainly CON-Bonds, CON-CDOs, and anything else they use deception to call FALSE collateral.
The danger now is an attempt at SYSTEMIC monetisation, which will drive prices through the roof and/or shut many more businesses down...unemployment,
ALL to keep DISPROPORTUNED where their salaries and everyone connected to the govt., SELF-regulating their salaries ABOVE inflation which effects everyone else but them. The “game”.
**** That is because most of them are part of the corrupt system. And the rest are not educated enough on the matter to say a word. I dont feel sorry for these bankers. They did it to themselves. They did it to us. With all there get rich quick schemes that backfired as simple math would dictate. Even the bailouts which our children would theoretically pay for, Could not save them. But at least they had people well planted in justice so that they could not go to jail.****
I call them plainly CON-Bonds, CON-CDOs, and anything else they use deception to call FALSE collateral.
The danger now is an attempt at SYSTEMIC monetisation, which will drive prices through the roof and/or shut many more businesses down...unemployment,
ALL to keep DISPROPORTIONED where their salaries and everyone connected to the govt., SELF-regulating their salaries ABOVE inflation which effects everyone else but them. The “game”.
It should never be difficult to prosecute corruption and an incompetent thief.
The banksters should have been bankrupted and the shareholders and bondholders taking the major hit. Instead Obama and his Federal Reserve and NYC Wall St shills like Geithner and his pal Barney made them and their campaign donor executives more than whole and allowed them to retain all ill-gotten gains, while we average taxpayers took the major hit.
I support and encourage public trials and hangings for political and financial corruption regardless of Party.
The only thing that investors and the public know about the banksters is that we know nothing about their real holdings. Their pals in the Fed Reserve allowed them to hold fantasy and whims rather than reality. They ripped us off and we will pay the price for decades.
The one to watch, in particular, is B of A. It has been hovering in the low fives and if it dips below five and stays down, a lot of institutional investors and mutual funds will have to sell it.
The failure face banksters deserve a hard time. What total amoral idiots.
Perhaps this is a lead to figuring out what really made Barney's Frank decide not to run.
Thank you.
This is not good. JP Morgan Chase has our mortgage and Wells Fargo the credit card. Our economy is sick, really sick.
DOW futures are only down 96. right now.
The central banksters put some gasoline in the woodstove to temporarily take care of the problem with the bank downgrade, and the fundamental problem of a dwindling supply of real economic firewood.
DOW up 364.
Make that 410 and, yes, I am aware of the central banks’ actions.
You might be right! Just checked and the DJIA is up 400.
INSANITY.
Interesting comments on this thread.
My gut tells me this is a very positive signal for banks. Quick, somebody get Paulson in here, we need to give taxpayer money away ASAP!
The real question is who knew what was coming between 4PM Tues and this morning, because those who had the inside info made tons of money? Make no mistake there were those who had the inside track and knew of the coming whipsaw of the S&P downgrades and subsequent central bank plans. Any thoughts about the potential of the alleged commercial trading arm of the US Fed having inside knowledge on this? Playing Wall St is like playing slot machines where the odds improve drastically when insiders put their card in the slot.
It’s amazing when a rude, sarcastic comment comes true.
LOL!
As a guy who six months ago cut back to half time and who will be retiring June 2012, I'm mostly concerned with the volatility. I don't think any of this will calm down until Obama is gone. I think his defeat would do more to help the economy than anything else, even if it is just because of perception and confidence.
Printing more money is not the answer.
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