 |
| Societe Generale CEO Frederic Odeau |
Breaking: Societe Generale's Debt, Deposits cut one notch to AA3 by Moody's
This night is just getting worse and worse. This is why I harped earlier about not wanting to be long overnight. This is why. I tried my hardest to find some kind of short play on the European financials (in particular Societe Generale as it was up 13% yesterday off its fraud of a CEO's bullshit interviews) but couldn't find. I shorted more US Financials via the Spyder Financial Sector ETF (XLF) as they should see some domino action off this news.
Update: Credit Agricole's Debt, Deposits cut one notch to AA2 by Moody's. More Pain!!!
This is not a recommendation to buy or sell any securities. DAK was short XLF at time of publication but positions can change at anytime.
No comments:
Post a Comment