Notes From Underground: You Are So Jejune (Love and Death, Woody Allen)

Notes From The Underground ^ | June 27, 2016 | Yra Harris

[ameribbean expat]

...Then there was a major mistake when the equivalent of Moe, Larry and Curly rushed to downgrade the British debt to AA. Too bad these are the same rating agencies that failed to downgrade U.S. mortgages. I would ask MOODY’s, S&P and FITCH: How is it possible to grade European debt when the ECB has no centralized taxing authority to stand behind it? The ECB is a bottomless pit and the U.K. will be proven smart by relieving itself of an enormous liability.

[ameribbean expat]

Yra Harris of Praxis Partners, CNBC commentator (usually partnered with Rick Santelli, longstanding veteran of the Chicago pits. Plainspoken Midwestern common sense on Brexit, its consequences, by a guy who has been in the market and had skin in the game longer than the people in DC or those reporting.

[babble-on]

The ECB doesn’t stand behind the debt. The national governments do, or don’t. Just like in the US. It’s not the Fed that has taxing authority, it’s the Treasury.

[agincourt1415]

The Credit Agencies are a FRAUD! Watch the Big Short and see!