An irreverent look at Wall Street
That made my day!I effing love Ozzie
Spain downgraded oh my! The rating agencies are soooo credible! here's an idea -- rate credit based on relative yields...but i guess that's too easy + the guys at Fitch, S&P & Moody's are soooo smart!
As if this was a surprise. They were already downgraded by S&P in Jan 2009(!). The market already assumed Spain to be non-AAA from way back.Classic sell the news. All we need is a trigger and down we go. If this was released in Jan '10, no one would have cared. I'll say again, this market is sick. The unemployment and the reaction to it would be a biggie.
bulls got into their back rooms... suck them into a rally and then reap them a new one.
Are we crashing again?
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