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DOJ assault on S&P... LOL

 
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Asm0deus



Joined: 24 Mar 2004
Posts: 12739
Location: Constantly waiting on Delta

PostPosted: Thu Aug 18, 2011 3:07 pm    Post subject: DOJ assault on S&P... LOL Reply with quote

Laughing Laughing Laughing Laughing Laughing Laughing Laughing


Hilarious, obvious, and RIDICULOUS retaliation...

http://finance.yahoo.com/news/Shares-of-Moodys-SP-parent-apf-2713761720.html

Quote:
"The investigation of S&P began before that agency cut the United States' AAA credit rating this month, "


...but they kept it in their back pocket "just in case we's needs some leverage against yous guys, yannowhatimean"...
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Mr Sweet



Joined: 14 Jul 2004
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PostPosted: Thu Aug 18, 2011 11:44 pm    Post subject: Reply with quote

assault is a big word, considering the role they played in our recession. fuck wallstreet and the ratings agencies whom they pay for their ratings. What about their fuzzy math that was involved in the downgrade?

Seriously, you're sticking up for Standard and Poor's? Really? Do they need the extra support? Is this the modern day civil rights movement? The banking industry is being discriminated against! Class Warfare! The gov't is doing it's job oh noes.

Asmo you went from semi lefty/libertarian to mr corporate spokesman in the last week or so. Are your tanking stocks taking a beating on you?
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VJ



Joined: 18 Oct 2004
Posts: 5898
Location: Easside..

PostPosted: Fri Aug 19, 2011 6:45 am    Post subject: Reply with quote

Where is the government doing it's job? Anything you see on the outside is all smoke and mirrors. Any regulation you believe is actually regulating the banks has infact turned sour and results in the bank's own customers paying for any costs as a result of that regulation. The whole fucking thing is crooked and stinks, from the inside out.
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VJ



Joined: 18 Oct 2004
Posts: 5898
Location: Easside..

PostPosted: Fri Aug 19, 2011 6:46 am    Post subject: Reply with quote

Mr Sweet wrote:

Asmo you went from semi lefty/libertarian to mr corporate spokesman in the last week or so. Are your tanking stocks taking a beating on you?


Never got the idea he was ever semi lefty. We are both ALL FOR merit based, FOR-profit. I know you hate that idea, even if I tell you that it doesn't mean you fuck people over to do it.
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Asm0deus



Joined: 24 Mar 2004
Posts: 12739
Location: Constantly waiting on Delta

PostPosted: Fri Aug 19, 2011 7:26 am    Post subject: Reply with quote

Mr Sweet wrote:
assault is a big word, considering the role they played in our recession. fuck wallstreet and the ratings agencies whom they pay for their ratings. What about their fuzzy math that was involved in the downgrade?

Seriously, you're sticking up for Standard and Poor's? Really? Do they need the extra support? Is this the modern day civil rights movement? The banking industry is being discriminated against! Class Warfare! The gov't is doing it's job oh noes.

Asmo you went from semi lefty/libertarian to mr corporate spokesman in the last week or so. Are your tanking stocks taking a beating on you?


Wow, you missed the boat completely there. Laughing You're reading WWAAAAYY too much into that, which was solely a slam on the administration & DOJ henchmen. I couldn't give two shits about S&P or any financial institutions. My money is VERY safe; thanks for asking.

The DOJ didn't start "doing their job" until they wanted to retaliate -- and they made it VERY public. Smells a LOT like thuggery, and it's plainly obvious.


FTR: I'm not even a LITTLE "lefty", yet most people regularly confuse progressive social views with being a fucking Democrat.

What's worse, the GOP is mostly a shithole of religious bigotry, which utterly squanders their pro-captialism, pro-Self-advancement, and smaller-gov't views.

Since when are Libertarians left-wing, BTW? Laughing But I'm not that, either -- Libertarians are militarily WEAK, despite the implicit contradiction that brings when it comes to stability that a profitable civilization requires. If they actually had any forward momentum, though, I'd be willing to put up with legitimate candidates here long before either of the other two.

Apparently I'm not allowed to have one of each hanging from the tree in my front yard, otherwise the decor around here would be MUCH better. Very Happy



The closest way to describe me would be "Imperialist". Here's my platform, since you're clearly all kinds of curious:
-Religion needs to be abolished. (All religions, everywhere. Practice quietly in your home.)
-Social issues don't belong in politics at all. Fuck/smoke/drink/snort/inject/abort whatever you want, just shut the fuck up about it. Go blog with your peers or something.
-Free Enterprise + individual success is the cornerstone of civilization, and welfare = indentured servitude. (Won't/can't work? Jump in a woodchipper.)
-Militarily conquer/invade/occupy/defend anyone else whose resources you want, just admit that's why you're invading. Treat it like the business project that it really is.
-Government's job is to get the fuck out of the way of progress, although a little policing (of citizens, of standards, and of the police-ers themselves) can be a good thing.
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VJ



Joined: 18 Oct 2004
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PostPosted: Fri Aug 19, 2011 7:55 am    Post subject: Reply with quote

*grabs popcorn.
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Asm0deus



Joined: 24 Mar 2004
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Location: Constantly waiting on Delta

PostPosted: Fri Aug 19, 2011 8:08 am    Post subject: Reply with quote

VJ wrote:
*grabs popcorn.


Obvious Ackbar, right?
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Jason G



Joined: 30 Jun 2004
Posts: 1934
Location: Robotrippin'

PostPosted: Fri Aug 19, 2011 1:05 pm    Post subject: Reply with quote

When people rail against government regulation, this is exactly the kind of thing they should want regulation for. Market forces are not enough for this kind of thing. Government shouldn't get out of the way here, we've seen what happens when these things go unregulated.

What S&P did, effectively, was to lie about the risk involved with trillions of dollars worth of securities. They didn't just understate the risk, they knew it was shit and lied about it. And they got paid millions of dollars to lie about it. I'm not sure that's criminal, but it should be. And the justice dept should be looking into it. Hell, they should have been doing this 3 years ago.
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Asm0deus



Joined: 24 Mar 2004
Posts: 12739
Location: Constantly waiting on Delta

PostPosted: Fri Aug 19, 2011 1:18 pm    Post subject: Reply with quote

Jason G wrote:
they knew it was shit and lied about it. And they got paid millions of dollars to lie about it. I'm not sure that's criminal, but it should be. And the justice dept should be looking into it. Hell, they should have been doing this 3 years ago.


Aha -- but there's the rub.

Same branch, same administration, for the last 2.5 years. Would the public not have hailed them as heroes for kicking off this vigorous investigation -- WITH THIS MUCH ATTENTION -- at any point in the past? Absolutely.

But the timing here is so plainly obvious as "cheap retribution" that it cheapens the whole thing. "You defied us, and now you're going to publicly pay." Reminds me of what the Unions are doing to Verizon -- thuggish at best.

Some serious smack needed to be laid down upon the industry at some previous point, sure. But this is just a media spectacle now.
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Jason G



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PostPosted: Fri Aug 19, 2011 1:27 pm    Post subject: Reply with quote

Can't disagree Asm0, the timing stinks.
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Mr Sweet



Joined: 14 Jul 2004
Posts: 1587

PostPosted: Fri Aug 19, 2011 3:00 pm    Post subject: Reply with quote

Asm0deus wrote:

Since when are Libertarians left-wing, BTW? Laughing But I'm not that, either -- Libertarians are militarily WEAK, despite the implicit contradiction that brings when it comes to stability that a profitable civilization requires. If they actually had any forward momentum, though, I'd be willing to put up with legitimate candidates here long before either of the other two.


While libertarians get lumped in with the right, because of many of them putting an R next to their name so they can get elected, I personally feel that personal liberty is a progressive idea when you consider the right wants to make everything christian, especially infusing it into all aspects of gov't, the right wants to tell you who you can marry, have sex with, force you to have a baby you don't want. Now on the left, they want to "force" the rich to pay their fair share, and I'm sure others will chime in with some good talking points on how the left is against libertarian ideals. Militarily weak/isolationist/anti-war crowd is left leaning. How many on the right are pro-war vs the left?

Then again this is all up in the air unless you believe the bs that flies around like, Republicans are the party of fiscal responsibility and small government (not true) and democrats are big government, tax and spend. (not true). Plus just because I believe something, doesn't mean my elected representatives actually support my ideals. Chambliss and Isakson don't, and Obama has no spine, so while he might be considered a "democrat", I think we can safely say he is barely a Democrat (or at least he is on some issues, but not on other issues). As for the free market aspect, neither side can lay claim to actually promoting a free market, sure as hell not the gop. Obama along with the gop are corporatists as evidenced by their bail outs of the banks (senator, not president obama for the record)



What makes libertarians inherently right leaning if that's what you believe? (that's my stance according to the questionnaire on that site btw).

http://www.politicalcompass.org/test

Either way fuck the timing, the investigation should have started in 2008/09, right after Bush, Cheney and Rumsfeld were thrown in jail for war crimes.
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Mr Sweet



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PostPosted: Fri Aug 19, 2011 11:15 pm    Post subject: Reply with quote

http://sanders.enews.senate.gov/mail/util.cfm?gpiv=2100076707.127853.130&gen=1

http://sanders.senate.gov/newsroom/news/?id=bcb5dff9-c786-48ca-b928-802b6c672974
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transponder



Joined: 18 Mar 2003
Posts: 5890
Location: Erotic City

PostPosted: Sun Aug 21, 2011 11:17 pm    Post subject: Re: DOJ assault on S&P... LOL Reply with quote

Asm0deus wrote:
Laughing Laughing Laughing Laughing Laughing Laughing Laughing


Hilarious, obvious, and RIDICULOUS retaliation...

http://finance.yahoo.com/news/Shares-of-Moodys-SP-parent-apf-2713761720.html

Quote:
"The investigation of S&P began before that agency cut the United States' AAA credit rating this month, "


...but they kept it in their back pocket "just in case we's needs some leverage against yous guys, yannowhatimean"...


There was a lot of unusual out of the money call buying in the VIX (Volatility Index) starting around July 18-22, 2011. I'm kinda pissed at myself for not recognizing it earlier, but unusual activity is just that -- unusual. In hindsight, it certainly looks like good ol boy politics between S&P and a banking sector that's been struggling since 2008 to convince the market they are solvent. It's pretty significant considering VIX options incur some of the highest existing premiums available and I don't think those buyers were throwing the likes of hundreds of millions of dollars away on expiring lottery tickets just on a hunch if you know what I mean. Wink

One thing is for sure, banks will do ANYTHING to make a buck right now and imo, that's exactly what they are doing. This whole "downgrade" reeks of insider trading or what have you. Whether it's the creation of extra fees, or pretending they didn't get your mortgage payment this month, etc; banks are some desperate motherfuckers. This monkey biz with S&P is just another tool in their arsenal, imo.

BUT, the silver lining is crude prices got stomped in the neck without the politicians having to get their hands dirty and risk politically unpopular calls for deeper "regulations" and "oversight" of the futures markets. Crude is down 20% and to me that just ensures that everybody's gonna have a better Xmas, and perhaps longer term a smoother 2012 campaign?
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transponder



Joined: 18 Mar 2003
Posts: 5890
Location: Erotic City

PostPosted: Sun Aug 21, 2011 11:25 pm    Post subject: Reply with quote

http://www.lunarmagazine.com/forum/viewtopic.php?t=43494

Just posting the link to the Gloom and Doom thread so I don't lose track of that BOA Back Door Tarp article.
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