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Major banks downgraded by Moody's
    #16415648 -

Ahh just another sign of the sweetness to come.

NEW YORK (CNNMoney) -- Some of the world's biggest banks were downgraded Thursday by rating agency Moody's, which cited concerns about the stability of the global financial system.

Moody's cut the ratings of 15 financial institutions after U.S. markets closed Thursday, including giants like Bank of America, Goldman Sachs and JPMorgan.

"All of the banks affected by today's actions have significant exposure to the volatility and risk of outsized losses inherent to capital markets activities," Moody's Global Banking Managing Director Greg Bauer said in a statement.

The news comes amid continued anxieties over Europe's debt crisis and the havoc it could wreak on the global markets.

The downgrades could raise costs for the banks, making it more expensive for them to borrow money.

World recession anyone?

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Re: Major banks downgraded by Moody's [Re: DeadHearts]
    #16415687 -

no no no such thing as world recession. An exra special all reveiling episode of Brook knows best will be aired tommorow, right before opening of markets. Thanksyouverymuch


--------------------
Been away so long I hardly knew the place
Gee, it's good to be back home
Leave it till tomorrow to unpack my case
Honey disconnect the phone
I'm back in the USSA
You don't know how lucky you are, boy
Back in the US
Back in the US
Back in the USSA

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Re: Major banks downgraded by Moody's [Re: tomnl]
    #16415689 -

:hmm:

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Re: Major banks downgraded by Moody's [Re: DeadHearts]
    #16415856 -

You know the fucked up thing about this.

Because they said it to the media, the stock market will go down. If they just downgraded the rating and shut up about it, the stock market would barely be affected.

Stocks are emotional creatures.


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