The MD, etc is a joke based upon Planet's (I think her's) posting many moons ago was a joke about how people had predicated their employment based upon peoples' overt display of certifications on linkedin. At no point was it ever to display arrogance or anything upon other people' qualifications, nor to claim any of the qualifcations listed.
Sorry for the confusion on the credentials/designations.
Pretty good advice given in here. There's no reason you can't turn this experience into a positive, and most often your previous employer won't say anything about the reason you were let go. I'd explain your functions and descriptors and spin the experience into a way in. From there, if you find a strong company, you'll find a manager who realizes that when you hire and develop stars, they make you look better and are the best thing for your career.
Good luck to you, and PM me if there's anything I can do to help.