Eric Platt And Mamta Badkar – Business Insider – Stocks Collapse: Here’s What You Need To Know – 21 June 2012

Eric Platt And Mamta Badkar – Business Insider

Markets plunged ahead of Moody’s expected downgrade of the banking sector.
But first, the scoreboard:
Dow: 12,573.57, -250.8, -1.96%
Nasdaq: 2,859.09, -71.3, -2.44%
S&P 500: 1,325.51, -30.1, -2.23%

Here’s what you need to know.

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John Ward – Spain Crisis Exclusive : Dash For Banking Consolidation “A Recipe For Worse Disaster” – Insinders La Caixa Singled Out As”Heading For The Rocks”- 15 June 2012

Playing with fire in Spain

Spanish banks have borrowed more money from the ECB than any other country – €227.6 billion. Between them, Spain’s three biggest banks Banco Santander, BBVA, and La Caixa, “have combined assets of about $2.7 trillion. Spain’s three biggest banks are nearly twice as big as the entire Spanish economy. Now it looks like the third of those is in dire straits.

The Telegraph UK Headlines, 13th June 2012 – 14 June 2012

Debt crisis: Germany signals shift on €2.3 trillion redemption fund

 

The German government has begun opening the door to shared debts for the first time in a profound change of policy, agreeing to explore proposals for a €2.3 trillion (£1.9 trillion) stabilization fund in order to stop the eurozone’s crisis escalating out of control.

Debt crisis: as it happened, June 13, 2012

Debt crisis: Greeks pulling €800m a day from banks

US retail sales drop for second month

IMF approves €1.4bn Irish bail-out loan

Spain could be cut to junk within three months

 

Spain could be downgraded to ‘junk’ within three months, rating agency Moody’s warned on Wednesday night, as it slashed the country’s credit rating by three notches.

Mish/ Mike Shedlock – Morgan Stanley Bonds Trade At Junk Pricing, Downgrades Coming; Will Morgan Stanley Survice? Top 5 Banks Collectively Have 45:1 Leverage – 2 June 2012

Morgan Stanley’s corporate borrowing costs are already way higher than Goldman Sachs and more downgrades are likely in the works.
The Fiscal Times explains How Morgan Stanley sank to junk pricing

The bond markets are treating Morgan Stanley like a junk-rated company, and the investment bank’s higher borrowing costs could already be putting it at a disadvantage even before an expected ratings downgrade this month.

Moody’s Downgrades 16 Spanish Bank Ratings – 18 May 2012

The Associated Press

Moody’s Investors Service is downgrading the ratings of 16 Spanish banks because of the country’s worsening financial picture.

Moody’s lowered its rating by one to three notches on the long-term debt and deposit ratings for 16 Spanish banks and one U.K. subsidiary on Thursday.

Lucas – The Domino Effect Is Kicking Hard In As The Stones Need To Fall – 14 February 2012

In earlier articles of mine I have been talking about the domino effect that will bring down all and there is no stopping the lifeline. All ways that lead to end the system are now seen kicking in fast.

If you follow Ben Fulford’s and David Wilock’s  writings you see that very big things have been brought to light and are happening in front and behind the scenes. I myself see the story develop as I see that the EU is desperate  seeking financiers of the lost cause the Euro Zone is and was. China is now asked to help again. Will they? I think personally not.  For the US Dollar the story is not different, all is imploding to nill.  If monetary systems are built on dishonesty and fraud, embezzlement, enrichment, on domination and power they are not able to survive the ending of this year.