Infinite Unknown

- S&P Downgrades Berkshire From AA+ To AA, Outlook Negative (ZeroHedge, May 16, 2013):

Obviously with Buffett a major shareholder of Moody’s, the only place where a downgrade of Berkshire could come from was S&P. Moments ago, the rating agency that dared to downgrade the US for which it is being targeted by Eric Holder’s Department of “Justice”, did just that. Continue reading »

Tags: Berkshire Hathaway, Economy, Global News, Moody's, NYSE, Rating, Standard & Poor's, Stock Market, U.S., Warren Buffett

- Egan-Jones Downgrades Germany From A+ To A, Outlook Negative (ZeroHedge, April 17, 2013):

The more you try to shut them up, the more they have to say…Just out from Egan-Jones

4/17/2013: Federal Republic Of Germany: EJR lowered A+ to A (Neg.) (S&P: AAA) (3413Z GR)

Continue reading »

Tags: Bonds, Collapse, Debt, ECB, Economy, Egan-Jones, EU, Europe, GDP, Germany, Global News, Government, IMF, Politics, Rating

- Moody’s: Cyprus Euro Exit Risk Substantial (ZeroHedge, March 27, 2013):

Though it may seem a little like stating the obvious to many, Moody’s comments:

While the risk of a euro exit by Cyprus is substantial… …following the economic dislocation that will be caused by the restructuring of the island’s two largest banks and the imposition of capital controls in the country, it is possible that the risk of euro exit will increase further.

And so while the talking heads discuss Cyprus as a unique situation and too small to care about, it seems the reality of the last two weeks has actually raised their chance of Euro exit as opposed to bailed them into the Euro.

Moody’s lowers Cyprus’s country ceilings to Caa2

Continue reading »

Tags: Bonds, Cyprus, Debt, Economy, EU, Europe, Global News, Government, Moody's, Politics, Rating

- Farewell AAA: Moody’s Downgrades The UK From AAA To Aa1 (ZeroHedge, Feb 22, 2013):

Just the headline for now:

• MOODY’S DOWNGRADES UK’S GOVERNMENT BOND RATING TO Aa1 FROM AAA

Someone must have clued Moody’s on the fact that the UK is about to have its very own Goldman banker, which means consolidated debt/GDP will soon need four digits. In other news, every lawyer in the UK is now celebrating because come Monday Moody’s will be sued to smithereens.

Cable not happy as it tests 31 month lows…

Full report below: Continue reading »

Tags: Bank of England, Collapse, Debt, Economy, GDP, Global News, Government, Moody's, Politics, Rating, U.K.

- McGraw-Hill, S&P Sued by U.S. Over Mortgage-Bond Ratings (Bloomberg, Feb 5, 2013):

McGraw-Hill Cos. (MHP) and its Standard & Poor’s unit were sued by the U.S. over claims S&P knowingly understated the credit risks of instruments that were central to the worst financial crisis since the Great Depression.

The U.S. Justice Department filed a complaint yesterday in federal court in Los Angeles, accusing McGraw-Hill and S&P of mail fraud, wire fraud and financial institutions fraud. Under the Financial Institutions Reform, Recovery and Enforcement Act of 1989, the U.S. seeks civil penalties of as much as $1.1 million for each violation. The company’s shares tumbled the most in 25 years yesterday when it said it expected the lawsuit, the first federal case against a ratings firm for grades related to the credit crisis.

Continue reading »

Tags: Bonds, Debt, Economy, Global News, Government, Politics, Rating, Standard & Poor's, U.S.

From the article:

“I’m sure you have already guessed the ending: Egan-Jones is banned from for the next 18 months from rating US government debt. They’ve effectively been silenced from telling the truth.”

As I’ve said many times before: Prepare for collapse.

- Scam complete: the US government takes a page from Diocletian’s book… (Sovereign Man, Jan 25, 2013):

Early in the 4th century, Emperor Diocletian issued an infamous decree to control spiraling wages and prices in the rapidly deteriorating Roman Empire.

As part of his edict, Diocletian commanded that any merchant or customer caught violating the new price structures would be put to death.

This is an important lesson from history, and a trend that has been repeated numerous times. When nations are in terminal economic decline, governments will stop at nothing to keep the party going just a little bit longer.

Continue reading »

Tags: Barack Obama, Bonds, Debt, Economy, Egan-Jones, Global News, Obama administration, Politics, Rating, SEC

- Fitch Issues Another Rating Warning For AmericAAA (ZeroHedge, Jan 15, 2013):

With precisely one month left until the early bound of the debt ceiling crunch and a possible US government shut down and/or technical default, and with M.A.D. warnings from the president and treasury secretary doing nothing to precipitate a sense of urgency (which will not arrive until there is a 20% market drop, so far consistently delayed but which will eventually happen), here comes the most toothless of rating agencies, French Fitch which somehow kept its mouth shut over the past 18 months, when US debt rose by over $2.1 trillion and debt to GDP hit 103%, shaking a little stick furiously, no doubt under guidance by its corporate HoldCo owners: French Fimilac SA.

From Reuters:

There is a material risk the United States would lose its triple-A if there is a repeat of 2011 wrangling over raising the country’s self-imposed debt ceiling, rating firm Fitch said on Tuesday.

Continue reading »

Tags: Barack Obama, Bonds, Debt, Economy, Fitch, Global News, Government, Obama administration, Politics, Rating, U.S.

- Moody’s Warns On USAAA Rating; IMF Piles On (ZeroHedge, Jan 2, 2012):

Moody’s has stepped forward with the first warning shot across the bow that:

• *MOODY’S: MORE MEDIUM TERM ACTIONS MAY BE NEEDED TO SUPPORT Aaa

Has contradicted itself (from September) on the debt-ceiling breach; and warns that while the deal ‘mitigates’ some fiscal drag, it does not remove it. To wit: the IMF piles on:

• *IMF SAYS `MORE REMAINS TO BE DONE’ ON U.S. PUBLIC FINANCES
• *IMF SAYS U.S. DEBT CEILING SHOULD BE RAISED `EXPEDITIOUSLY’

Full statements below. Continue reading »

Tags: Bonds, Debt, Economy, Fiscal Cliff, Global News, Moody's, Rating

- Italian PM Monti quits as Berlusconi withdraws support (Irish Examiner, Dec 9, 2012):

Prime minister Mario Monti has told Italy’s president he is resigning because he can no longer govern after Silvio Berlusconi’s party withdrew crucial support.

The move paves the way for early elections a year after the unelected economist helped pull the country back from the brink of financial disaster.

Only hours earlier, 76-year-old billionaire media baron Mr Berlusconi had announced he would run for a fourth term as premier, aiming for a dramatic comeback after he quit in disgrace last November.

Continue reading »

Tags: Debt, EU, Europe, Global News, Government, Italy, Mario Monti, Politics, Rating, Silvio Berlusconi, Standard & Poor's

- Greece Is In Selective Default (ZeroHedge, Dec 5, 2012)

Tags: Bonds, Collapse, Debt, Economy, Europe, Global News, Government, Politics, Rating, Standard & Poor's