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| 10:55 PM | ||
| Users Online Now: 2,113 (Who's On?) | Visitors Today: 1,474,085 | |
| Pageviews Today: 2,454,754 | Threads Today: 982 | Posts Today: 17,513 |
| 10:55 PM | ||
Fitch Prepares To Downgrade U.S. Credit Rating... | |
| Saddletramp Offer Upgrade  User ID: 740208  Puerto Rico01/15/2013 12:52 PM Report Abusive Post Report Copyright Violation | |
| Saddletramp (OP) User ID: 740208 Puerto Rico01/15/2013 12:54 PM Report Abusive Post Report Copyright Violation | I bring you...DOOM!!!  "And how can a man die better than facing fearful odds, for the ashes of his fathers, and the temples of his Gods..." ~ Horatius "Because he told the truth, and once you've heard the truth, everything else is just cheap whiskey..." "We don't rent pigs!" |
| goldielucks User ID: 794598  United States01/15/2013 01:00 PM Report Abusive Post Report Copyright Violation | |
| Saddletramp (OP) User ID: 740208 Puerto Rico01/15/2013 01:01 PM Report Abusive Post Report Copyright Violation | I guess everyone is on "Gun Doom" today... Why do you think they put this out now... So you wouldn't be paying attention...  "And how can a man die better than facing fearful odds, for the ashes of his fathers, and the temples of his Gods..." ~ Horatius "Because he told the truth, and once you've heard the truth, everything else is just cheap whiskey..." "We don't rent pigs!" |
| Anonymous Coward User ID: 25020296 United States01/15/2013 01:04 PM Report Abusive Post Report Copyright Violation | |
| goldielucks User ID: 794598 United States01/15/2013 01:07 PM Report Abusive Post Report Copyright Violation | |
| Saddletramp (OP) User ID: 740208 Puerto Rico01/15/2013 01:08 PM Report Abusive Post Report Copyright Violation | This would have a serious impact on U.S. Banks, the reason being Standard & Poors already downgraded the U.S., if two of the three big ratings agencies move the U.S. to AA instead of AAA they won't be allowed to hold U.S. Treasuries as Securities in a lot of cases. Basel III (which is now slated for March) is setting up a Tier I asset catagory, and if 2 of the big 3 downgrade, U.S. Treasuries would not be qualified to fit in that Tier I asset class... It's a bigger deal than people suspect, though they could change the "rules" a bit... Last Edited by Saddletramp on 01/15/2013 01:08 PM "And how can a man die better than facing fearful odds, for the ashes of his fathers, and the temples of his Gods..." ~ Horatius "Because he told the truth, and once you've heard the truth, everything else is just cheap whiskey..." "We don't rent pigs!" |
| Anonymous Coward User ID: 32264000  Germany01/15/2013 01:11 PM Report Abusive Post Report Copyright Violation | This would have a serious impact on U.S. Banks, the reason being Standard & Poors already downgraded the U.S., if two of the three big ratings agencies move the U.S. to AA instead of AAA they won't be allowed to hold U.S. Treasuries as Securities in a lot of cases. Basel III (which is now slated for March) is setting up a Tier I asset catagory, and if 2 of the big 3 downgrade, U.S. Treasuries would not be qualified to fit in that Tier I asset class... It's a bigger deal than people suspect, though they could change the "rules" a bit... They would change Basel III to make up for it. |
| Renegade (Me too) User ID: 31680294 United States01/15/2013 01:13 PM Report Abusive Post Report Copyright Violation | This is a bit more serious than when Egan Jones does it... Quoting: Saddletramp Because Fitch, Moody's, and Standard & Poor's are the big three when it comes to banks and what bonds they can hold as securities... Will make a huge difference in Basel III Tier I asset catagorization as well... LONDON (AP) — The United States could lose its top credit rating for the second time from a leading credit agency if there's a delay in raising the country's debt ceiling, Fitch Ratings warned Tuesday. Congress has to increase the country's debt limit, which effectively rules how much debt the U.S. can have, by March 1 or face a potential default. There are fears that the debate will deteriorate into the squabbling and political brinkmanship that marked the last effort to raise the ceiling in the summer of 2011. The U.S. Treasury Department warned then that it had nearly reached a point where it would be unable "to meet our commitments securely." If Fitch does move to downgrade the US, it will join Standard & Poor's, which was so concerned by the dysfunctional 2011 debate that it stripped the U.S. of its triple A rating for the first time in the country's history. Another major ratings agency, Moody's, also has a negative view on the U.S. outlook... [link to www.usatoday.com] How's the hopey changey workin' out for you...  Who is John Galt? |
| Saddletramp (OP) User ID: 740208 Puerto Rico01/15/2013 01:17 PM Report Abusive Post Report Copyright Violation | This would have a serious impact on U.S. Banks, the reason being Standard & Poors already downgraded the U.S., if two of the three big ratings agencies move the U.S. to AA instead of AAA they won't be allowed to hold U.S. Treasuries as Securities in a lot of cases. Basel III (which is now slated for March) is setting up a Tier I asset catagory, and if 2 of the big 3 downgrade, U.S. Treasuries would not be qualified to fit in that Tier I asset class... It's a bigger deal than people suspect, though they could change the "rules" a bit... They would change Basel III to make up for it. Yeah but they would also have to change Regulatory rules for Community and Regional Banks as to what Securities that can invest capital reserves in as well... "And how can a man die better than facing fearful odds, for the ashes of his fathers, and the temples of his Gods..." ~ Horatius "Because he told the truth, and once you've heard the truth, everything else is just cheap whiskey..." "We don't rent pigs!" |
| Saddletramp (OP) User ID: 740208 Puerto Rico01/15/2013 01:18 PM Report Abusive Post Report Copyright Violation | This is a bit more serious than when Egan Jones does it... Quoting: Saddletramp Because Fitch, Moody's, and Standard & Poor's are the big three when it comes to banks and what bonds they can hold as securities... Will make a huge difference in Basel III Tier I asset catagorization as well... LONDON (AP) — The United States could lose its top credit rating for the second time from a leading credit agency if there's a delay in raising the country's debt ceiling, Fitch Ratings warned Tuesday. Congress has to increase the country's debt limit, which effectively rules how much debt the U.S. can have, by March 1 or face a potential default. There are fears that the debate will deteriorate into the squabbling and political brinkmanship that marked the last effort to raise the ceiling in the summer of 2011. The U.S. Treasury Department warned then that it had nearly reached a point where it would be unable "to meet our commitments securely." If Fitch does move to downgrade the US, it will join Standard & Poor's, which was so concerned by the dysfunctional 2011 debate that it stripped the U.S. of its triple A rating for the first time in the country's history. Another major ratings agency, Moody's, also has a negative view on the U.S. outlook... [link to www.usatoday.com] How's the hopey changey workin' out for you... In a nutshell If Fitch downgrades U.S. Debt, that's 2 out of the big 3, that would mean the Interest that the U.S. has to pay on its debt could go up dramatically... Last Edited by Saddletramp on 01/15/2013 01:21 PM "And how can a man die better than facing fearful odds, for the ashes of his fathers, and the temples of his Gods..." ~ Horatius "Because he told the truth, and once you've heard the truth, everything else is just cheap whiskey..." "We don't rent pigs!" |
| Anonymous Coward User ID: 32264000 Germany01/15/2013 01:23 PM Report Abusive Post Report Copyright Violation | This would have a serious impact on U.S. Banks, the reason being Standard & Poors already downgraded the U.S., if two of the three big ratings agencies move the U.S. to AA instead of AAA they won't be allowed to hold U.S. Treasuries as Securities in a lot of cases. Basel III (which is now slated for March) is setting up a Tier I asset catagory, and if 2 of the big 3 downgrade, U.S. Treasuries would not be qualified to fit in that Tier I asset class... It's a bigger deal than people suspect, though they could change the "rules" a bit... They would change Basel III to make up for it. Yeah but they would also have to change Regulatory rules for Community and Regional Banks as to what Securities that can invest capital reserves in as well... The most likely outcome is the the rasing of the debt ceiling. Will fitch be fine with that? |
| Saddletramp (OP) User ID: 740208 Puerto Rico01/15/2013 01:26 PM Report Abusive Post Report Copyright Violation | ... Quoting: Saddletramp This would have a serious impact on U.S. Banks, the reason being Standard & Poors already downgraded the U.S., if two of the three big ratings agencies move the U.S. to AA instead of AAA they won't be allowed to hold U.S. Treasuries as Securities in a lot of cases. Basel III (which is now slated for March) is setting up a Tier I asset catagory, and if 2 of the big 3 downgrade, U.S. Treasuries would not be qualified to fit in that Tier I asset class... It's a bigger deal than people suspect, though they could change the "rules" a bit... They would change Basel III to make up for it. Yeah but they would also have to change Regulatory rules for Community and Regional Banks as to what Securities that can invest capital reserves in as well... The most likely outcome is the the rasing of the debt ceiling. Will fitch be fine with that? I dunno, Fitch also sited the fact that the U.S. had put off making any significant spending cuts as well... "And how can a man die better than facing fearful odds, for the ashes of his fathers, and the temples of his Gods..." ~ Horatius "Because he told the truth, and once you've heard the truth, everything else is just cheap whiskey..." "We don't rent pigs!" |
| Anonymous Coward User ID: 32273477  France01/15/2013 01:26 PM Report Abusive Post Report Copyright Violation | ... Quoting: Saddletramp This would have a serious impact on U.S. Banks, the reason being Standard & Poors already downgraded the U.S., if two of the three big ratings agencies move the U.S. to AA instead of AAA they won't be allowed to hold U.S. Treasuries as Securities in a lot of cases. Basel III (which is now slated for March) is setting up a Tier I asset catagory, and if 2 of the big 3 downgrade, U.S. Treasuries would not be qualified to fit in that Tier I asset class... It's a bigger deal than people suspect, though they could change the "rules" a bit... They would change Basel III to make up for it. Yeah but they would also have to change Regulatory rules for Community and Regional Banks as to what Securities that can invest capital reserves in as well... The most likely outcome is the the rasing of the debt ceiling. Will fitch be fine with that? There's no such debt ceiling anymore, there's a pie in sky. |
| Saddletramp (OP) User ID: 740208 Puerto Rico01/15/2013 01:32 PM Report Abusive Post Report Copyright Violation | Yeah but they would also have to change Regulatory rules for Community and Regional Banks as to what Securities that can invest capital reserves in as well... The most likely outcome is the the rasing of the debt ceiling. Will fitch be fine with that? There's no such debt ceiling anymore, there's a pie in sky. I dunno, there's two sides to every argument, but there needs to be some way to hold Obama's feet to the fire on spending cuts. The Repukes basically agreed to raise taxes on everyone, but they didn't secure any spending cuts in the deal they made... Obama says he'll discuss that...but when?!?!? He says now is not the time...well when is the time? Because they just kicked the fiscal cliff can down the road for just three months, so we need to start this debate NOW!!! "And how can a man die better than facing fearful odds, for the ashes of his fathers, and the temples of his Gods..." ~ Horatius "Because he told the truth, and once you've heard the truth, everything else is just cheap whiskey..." "We don't rent pigs!" |
| Anonymous Coward User ID: 1447583 United States01/15/2013 02:05 PM Report Abusive Post Report Copyright Violation | |
| Saddletramp (OP) User ID: 740208 Puerto Rico01/15/2013 02:11 PM Report Abusive Post Report Copyright Violation | Thank you for the pin...  "And how can a man die better than facing fearful odds, for the ashes of his fathers, and the temples of his Gods..." ~ Horatius "Because he told the truth, and once you've heard the truth, everything else is just cheap whiskey..." "We don't rent pigs!" |
| Ballin on Your Tax Dollars User ID: 9927807 United States01/15/2013 02:39 PM Report Abusive Post Report Copyright Violation | |
| ArcanoExAngelos User ID: 21559870 United States01/15/2013 02:53 PM Report Abusive Post Report Copyright Violation | I guess everyone is on "Gun Doom" today... Quoting: Saddletramp Why do you think they put this out now... So you wouldn't be paying attention... I guess everyone is on "Gun Doom" today... Quoting: Saddletramp Why do you think they put this out now... So you wouldn't be paying attention... Ummmm... many of us already were downgraded too much to care..... But it is indeed a sad state of affairs... I doubt the default will occur... |
| CeeLite User ID: 32207667 United States01/15/2013 03:14 PM Report Abusive Post Report Copyright Violation | |
| Anonymous Coward User ID: 25020296 United States01/15/2013 03:47 PM Report Abusive Post Report Copyright Violation | |
| Anonymous Coward User ID: 25020296 United States01/15/2013 03:49 PM Report Abusive Post Report Copyright Violation | This would have a serious impact on U.S. Banks, the reason being Standard & Poors already downgraded the U.S., if two of the three big ratings agencies move the U.S. to AA instead of AAA they won't be allowed to hold U.S. Treasuries as Securities in a lot of cases. Basel III (which is now slated for March) is setting up a Tier I asset catagory, and if 2 of the big 3 downgrade, U.S. Treasuries would not be qualified to fit in that Tier I asset class... It's a bigger deal than people suspect, though they could change the "rules" a bit... Should have downgraded the USA a long time ago but I think Obamas threat stopped it before. I'd bet it will work again. |
| Anonymous Coward User ID: 31772387 United States01/15/2013 04:36 PM Report Abusive Post Report Copyright Violation | |
| Nikola Tesla User ID: 18230284 United States01/15/2013 04:38 PM Report Abusive Post Report Copyright Violation | This is a bit more serious than when Egan Jones does it... Quoting: Saddletramp Because Fitch, Moody's, and Standard & Poor's are the big three when it comes to banks and what bonds they can hold as securities... Will make a huge difference in Basel III Tier I asset catagorization as well... LONDON (AP) — The United States could lose its top credit rating for the second time from a leading credit agency if there's a delay in raising the country's debt ceiling, Fitch Ratings warned Tuesday. Congress has to increase the country's debt limit, which effectively rules how much debt the U.S. can have, by March 1 or face a potential default. There are fears that the debate will deteriorate into the squabbling and political brinkmanship that marked the last effort to raise the ceiling in the summer of 2011. The U.S. Treasury Department warned then that it had nearly reached a point where it would be unable "to meet our commitments securely." If Fitch does move to downgrade the US, it will join Standard & Poor's, which was so concerned by the dysfunctional 2011 debate that it stripped the U.S. of its triple A rating for the first time in the country's history. Another major ratings agency, Moody's, also has a negative view on the U.S. outlook... [link to www.usatoday.com] How's the hopey changey workin' out for you... This is a huge issue folks and it is not getting much traction in the MSM. Everyone is fretting over gun control. If a downgrade occurs, get ready for all hell to break loose in the financial world. Is it possible that the urgent need to control the populations firepower is related to imminent financial DOOM? "One person with courage is a majority." - Thomas Jefferson "You’ve heard that we are what we eat. But we also are what we think". “Liberals claim to want to give a hearing to other views, but then are shocked and offended to discover that there are other views." -William F. Buckley Jr. |
Lady Jane Smith Forum Administrator User ID: 1308945 United States01/15/2013 04:39 PM  Report Abusive Post Report Copyright Violation | |
| IssueX User ID: 14348632 United States01/15/2013 04:42 PM Report Abusive Post Report Copyright Violation | |
| IssueX User ID: 14348632 United States01/15/2013 04:47 PM Report Abusive Post Report Copyright Violation | Now it seems some dems want to do away with the debt ceiling altogether. Quoting: Lady Jane Smith Screw this shit. Oh representative government is sooooo 20th century Get with the program everyone, it's not a dictatorship, it's executive efficiency! Obama has learned from Mao, Stalin and Castro - Screw negotiating or compromising with people who don't agree with you on everything...just take control and put on a funny hat while you're at it Didn't you hear? Dems urge Obama to raise debt limit without Congress, if necessary By Michael O'Brien, NBC News Senate Democratic leaders urged President Barack Obama to act to increase the nation's debt limit, even without congressional approval, in order to avoid a standoff with Republicans over the nation's borrowing authority. The top four Democrats wrote Obama on Friday to urge him against allowing the debt ceiling becoming a bargaining chip with Republicans, who might threaten to vote against any increase in the debt limit without new spending cuts or entitlement reforms from the administration. [link to firstread.nbcnews.com] |
| Anonymous Coward User ID: 28372155  Canada01/15/2013 04:53 PM Report Abusive Post Report Copyright Violation | This is a huge issue folks and it is not getting much traction in the MSM. Everyone is fretting over gun control. If a downgrade occurs, get ready for all hell to break loose in the financial world. Quoting: Nikola Tesla Is it possible that the urgent need to control the populations firepower is related to imminent financial DOOM? ^^^THIS^^^ |
| HappyGlock User ID: 31564525 United States01/15/2013 04:56 PM Report Abusive Post Report Copyright Violation |  says  Last Edited by HappyGlock on 01/15/2013 04:57 PM "When government fears the people there is liberty. When the people fear the government there is tyranny." Thomas Jefferson |
| Epic Beard Guy User ID: 26240425 United States01/15/2013 05:18 PM Report Abusive Post Report Copyright Violation | If they were being honest, we would have already been downgraded dramatically. There is no reason that we have the good rating after we print worthless greenbacks to pay our debts. Hope for the best, but prepare for the worst. "America is at that awkward stage. It's too late to work within the system, but too early to shoot the bastards." -- Claire Wolfe |
| oO User ID: 32296929  Aruba01/15/2013 05:21 PM Report Abusive Post Report Copyright Violation | |
