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The Credit Rating Agencies
Date: July 29, 2011 09:12PM

S&P, Moody's, Fitch. Who the fuck are these people, anyway? They are sitting here threatening the credit rating of the U.S. even if we don't default. These fuckers should be in prison for fraud over the way they rated junk securities as AAA. We wouldn't be in this mess if they had done their fucking job right in the first place. Seriously, these assholes should be sitting in a tribunal right now having life sentences read to them.

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http://bible.cc/1_corinthians/13-11.htm

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Re: The Credit Rating Agencies
Posted by: Hatemotor ()
Date: July 29, 2011 09:20PM

I was thinking the same thing,,how the fuck are all the financial service businesses back in charge,,,

We save the banks, that used the credit rating services; and they both fuck us!

Now the credit rating agencies are gonna give the banks a reason to up our interest rates!

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Re: The Credit Rating Agencies
Posted by: Warhawk ()
Date: July 30, 2011 09:33AM

I almost posted this same topic yesterday. If I was Obama, I'd get up there and say "hey you fucktards, who cares what you say. You guys rated some of the worst shit AAA and look at what happened. Its evident that your opinion shoudn't amount to jack shit after 2008. Fuck you."

Probably whil I'll never be president :(

__________________________________
That's not a ladybug, that's a cannapiller.



Edited 1 time(s). Last edit at 07/30/2011 09:38AM by Warhawk.

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Re: The Credit Rating Agencies
Posted by: Les ()
Date: July 30, 2011 10:15AM

From Moody's:

If there were a default on a Treasury debt obligation, a downgrade would likely follow, even if the default were swiftly cured and investors suffered no permanent losses.

If the debt limit is not raised before August 2, we believe that the Treasury would give priority to debt service payments and could thus postpone a potential debt default for a number of days. Revenues would be more than adequate for some period of time to meet those payments, although other outlays would be severely reduced as a result.

After August 2, the first interest payment date on Treasury bonds and notes is August 15, when $31 billion in interest is due. This is the first date that a default on bonds could occur. Based on the well-established monthly pattern of government revenue inflows and the scheduled interest payments on bonds and notes in coming months, the ratio of interest payments to incoming revenues can be calculated. August is one of the months when this ratio is highest during the current year, with interest payments being equivalent to about 20% of estimated revenues. In the following two months, this ratio is much lower. As a result, paying interest in August would potentially be more difficult than in other months, but it is important to note that incoming revenues are substantially higher than payments for interest alone.

In theory, a default could also occur on principal if maturing issues of Treasury bonds, notes, or T-bills could not be refinanced. Such an unlikely scenario would assume that there were no buyers for the new instruments when outstanding issues came due. The first T-bill maturity date after August 2 is August 4, when $59 billion in T-bills mature. Should the Treasury be unable to find buyers for an equivalent amount, a default might occur. This scenario seems extremely unlikely, given the role of the T-bill market in both domestic and global financial markets. It is worth noting that the debt limit was reached on May 16, and the Treasury has had no problem refinancing its maturing debt until now.

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Re: The Credit Rating Agencies
Date: July 30, 2011 10:48AM

So basically as long as we pay interest on the Treasuries, we won't default. We just won't be able to pay the military, seniors, hospitals, etc, that rely on the government.

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http://bible.cc/1_corinthians/13-11.htm

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Re: The Credit Rating Agencies
Posted by: urjr ()
Date: July 30, 2011 10:55AM

WashingTone-Locian Wrote:
-------------------------------------------------------
> S&P, Moody's, Fitch. Who the fuck are these
> people, anyway? They are sitting here threatening
> the credit rating of the U.S. even if we don't
> default. These fuckers should be in prison for
> fraud over the way they rated junk securities as
> AAA. We wouldn't be in this mess if they had done
> their fucking job right in the first place.
> Seriously, these assholes should be sitting in a
> tribunal right now having life sentences read to
> them.

They decide you intreat rates. They own you mortgage, they own your credit card debt, they buy our National debt, they own the bonds the build roads bridges and schools...we gave them the power when we decided not to pay for things with the money we have.

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Re: The Credit Rating Agencies
Posted by: JBass ()
Date: July 30, 2011 11:21AM

You know how they talk about the richest .1%??? How do you think they stay that way...

I dont give a fuck who posts on this board, what you think or who you think you are. We are all serfs. Open your eyes people...

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Re: The Credit Rating Agencies
Posted by: RR ()
Date: July 30, 2011 12:24PM

WashingTone-Locian Wrote:
-------------------------------------------------------
> S&P, Moody's, Fitch. Who the fuck are these
> people, anyway? They are sitting here threatening
> the credit rating of the U.S. even if we don't
> default. These fuckers should be in prison for
> fraud over the way they rated junk securities as
> AAA. We wouldn't be in this mess if they had done
> their fucking job right in the first place.
> Seriously, these assholes should be sitting in a
> tribunal right now having life sentences read to
> them.

Not sure it would have made any difference. You are right however. We should bundle these college punks together with the labor and commerce departments and bury the next to Bin Laden.

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Re: The Credit Rating Agencies
Posted by: SoylentGreen ()
Date: July 30, 2011 12:46PM

WashingTone-Locian Wrote:
-------------------------------------------------------
> S&P, Moody's, Fitch. Who the fuck are these
> people, anyway? They are sitting here threatening
> the credit rating of the U.S. even if we don't
> default. These fuckers should be in prison for
> fraud over the way they rated junk securities as
> AAA. We wouldn't be in this mess if they had done
> their fucking job right in the first place.
> Seriously, these assholes should be sitting in a
> tribunal right now having life sentences read to
> them.


They are one more group in a long line of those that are responsible to no one and have control over everyone.

They just happen to be closer to the head of the line than most.

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Re: The Credit Rating Agencies
Date: July 30, 2011 01:06PM

SoylentGreen Wrote:
-------------------------------------------------------

>
>
> They are one more group in a long line of those
> that are responsible to no one and have control
> over everyone.
>
> They just happen to be closer to the head of the
> line than most.


I think it was the "House of Cards" documentary on CNBC where I saw it, but they interviewed one of the former analysts from Moody's or Fitch. The chick was a complete airhead and even admitted to not understanding mortgage-backed securities, but would give them AAA ratings because everyone else was. You think it's some Ph.D. or MBA from Wharton doing this shit, but it's not. It's some fucking idiot with a BA in business from Queens College on her second job.

---------------------------------------------------------------------------------
http://bible.cc/1_corinthians/13-11.htm

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Re: The Credit Rating Agencies
Posted by: SoylentGreen ()
Date: July 30, 2011 01:19PM

WashingTone-Locian Wrote:
-------------------------------------------------------
The
> chick was a complete airhead and even admitted to
> not understanding mortgage-backed securities, but
> would give them AAA ratings because everyone else
> was. You think it's some Ph.D. or MBA from Wharton
> doing this shit, but it's not. It's some fucking
> idiot with a BA in business from Queens College on
> her second job.


Should we send them a thank you card for the hot tip on the mortage-backed securites?

One day you're sticking your head through the service window at Mister Twhirlly's Ice Cream handing out butter pecan and the next you're deciding the fate of a country.

But they're just doin' their job man...lighten up.

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Re: The Credit Rating Agencies
Date: July 30, 2011 01:23PM

SoylentGreen Wrote:
-------------------------------------------------------

>
> But they're just doin' their job man...lighten up.

I hope you are being facetious.

---------------------------------------------------------------------------------
http://bible.cc/1_corinthians/13-11.htm

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Re: The Credit Rating Agencies
Posted by: SoylentGreen ()
Date: July 30, 2011 02:02PM

WashingTone-Locian Wrote:
-------------------------------------------------------
> SoylentGreen Wrote:
> --------------------------------------------------
> -----
>
> >
> > But they're just doin' their job man...lighten
> up.
>
> I hope you are being facetious.


No worries.....I was.

Although that's more than likely the reponse you'd get from them.

I don't think they really understand the devastation they're capable of.

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Re: The Credit Rating Agencies
Posted by: Hay Zeus ()
Date: July 30, 2011 03:09PM

JBass Wrote:
-------------------------------------------------------
> You know how they talk about the richest .1%???
> How do you think they stay that way...
>
> I dont give a fuck who posts on this board, what
> you think or who you think you are. We are all
> serfs. Open your eyes people...


Yeah, unless you and private jet and a yacht you're just as vulnerable as the factory worker.

Or is it 3 helicopters, giant yacht and submarine like Paul Allen?

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Re: The Credit Rating Agencies
Posted by: ... ()
Date: July 31, 2011 11:42AM

I agree that the need to answer for rating junk securities as AAA. Rating US Treasury bonds any higher than Greek debt is like saying dot shit smells better than bull shit.

By the way, Dagong, the Chinese rating agency, has rightfully declared the US in default on account of its currency debasement called 'quantitative easing'.

Disclaimer - short USD

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