Moody's downgraded Italy three notches from AA2 to A2

[Mich the Tester]

Finnmeccanica own 21% of Eurofighter, employ 75,00 people and have revenues of over €18 billion. Weir group are about 1/10th the size, but do make a healthy profit.

I think he's getting his figures from Moody's and they use calculators that can't handle more than 9 figures.

[doodab]

Where are you getting these figures? Moodys?

He's talking about market capitalisation i.e. the value of all the shares at current prices, which reflects the markets perception of the value of a company and isn't necessarily linked to it's actual size.

[Mich the Tester]

He's talking about market capitalisation i.e. the value of all the shares at current prices, which reflects the markets perception of the value of a company and isn't necessarily linked to it's actual size.

Yes indeed.

[doodab]

Yes indeed.

And we all know how perceptive the market is

[Mich the Tester]

And we all know how perceptive the market is

Is this a bit like the market's perception of the creditworthiness of a heroin addicted unemployed single mother living in a run down wooden shed in Detroit, pre-2007?

Oh sorry, we're supposed to blame Bill Clinton for all that aren't we?

[TimberWolf]

Maybe Moodys (largest and only shareholder - Warren Buffet) are full of tulip and only look out for their own interests:

I thought Buffet was supposed to be one of the good guys?

[TimberWolf]

Even bankers don't trust banks:

Banks are leaving their money at the ECB rather than lending it, despite the central bank paying a lower rate of interest, as they become more nervous about the security of the banking system.
Debt crisis: live - Telegraph

[Doggy Styles]

And we all know how perceptive the market is

Laugh as much as you like, the market is all that matters here.

If you want to sell a company, and that's what we're talking about with Italy, the market sets the price.

[ThomasSoerensen]

I thought Buffet was supposed to be one of the good guys?

I believe he is very good at what he is doing. So definately one of the good guys.

[doodab]

Laugh as much as you like, the market is all that matters here.

This is exactly the perception that has got the world into this mess in the first place. The "markets" were created by man to serve man. Unfortunately it seems the continued wagging of the dog by it's tail will ensure everything ends up royally ****ed.

Markets, it seems to me, don't work very well. We shouldn't rely on them to the extent that we do.