Greek Debt Deal Rejected As S&P Begins European Bank Downgrades

At least they were kind enough to wait until the close:

EURO ZONE FINANCE MINISTERS REJECT OFFER OF GREEK PSI REACHED WITH PRIVATE BONDHOLDERS, ASK NEGOTIATORS TO CONSIDER COUPON ON NEW GREEK BONDS BELOW 4 PCT-EURO ZONE SOURCES – RTRS
EURO FALLS VERSUS DOLLAR AFTER EURO ZONE FINANCE MINISTERS REJECT GREEEK PSI OFFER
And making things even worse, here come the long overdue S&P bank downgrades

CREDIT LYONNAIS CUT TO A FROM A+ BY S&P
BNP PARIBAS OUTLOOK NEGATIVE BY S&P; OFF WATCH NEGATIVE :BNP FP
Sarc-o-bot (that’s Sarcasm, not Sarakozy) screaming: “This is all priced in. Buy buy buy.”

From: http://ping.fm/mZxo1