[Zakeet]

Better article on the subject: Here We Go: Moody's Downgrade Is Out - Morgan Stanley Cut Only 2 Notches, To Face $6.8 Billion In Collateral Calls.

Among other highlights:

• Rating cuts were long overdue

• More cuts coming to the same institutions

• Rating agencies were jawboned into holding back

• Cuts are expensive in terms of increased balances and interest cost

• Cuts came to the same group of big banks that own the Fed

• More bailouts inevitable

Bottom line: The big train wreck is gathering momentum. Get out of fiat and get into precious metals NOW.

[Gen-X-Dad]

Ahoy mateys, there be the derivative death star off the port bow and she be sucking us down the maelstrom of financial ponzi death. All them little financial bank boats swirling down the drain be nothing compared to the massive nation ships that have tied themselves to them, like an albatross around ye neck.