Skip to comments.REPORT: MASSIVE MOODY'S BANK DOWNGRADES TO HIT IN A FEW MINUTES
Posted on 06/21/2012 1:32:22 PM PDT by SeekAndFind
Moody's Ratings is set to downgrade the world's largest banks at 4 p.m., according to new reports out of CNBC.
The network says sources tell it Citi, J.P. Morgan Chase, and Goldman Sachs will be hit with two notch downgrades. Bank of America is expected to be cut one notch by Moody's.
Morgan Stanley, which is also on the list of banks Moody's said it would take action against, is said to be downgraded as well.
Nine European banks are expected to be included in the downgrade, which earlier reports noted would include Barclay's, UBS, HSBC, Lloyd's, and RBS.
(Excerpt) Read more at businessinsider.com ...
Not possible. I have it on good authority the private sector is doing fine.
Anyone with significant European exposure is going to experience some pain.
As bad as things feel here, Europe is an absolute train wreck.
I’m no financial guru but it sure seems to me like Cloward Piven got away from them and now the real hell is about to start.
This has also happened Unexpectedly....not.
Executive bonuses to be distributed at 4:15 p.m....
You sir win funniest comment of the day.
Were whispers about this the reason the market cratered today?
If Morgan Stanley finds itself with a three notch downgrade, it will be staring right in the face of a required $10 billion margin call. That’s 1/3 of their market cap. I love the smell of annihilation in the afternoon.
After the Market closed.
Perhaps. But I so wish it wasn’t.
More here on cnbc: http://www.cnbc.com/id/47903018
What was Obama's stress test that passed the Banks a fraud?
Yep. To paraphrase Margaret Thatcher, the European Socialists are about to run out of other people’s money.
The last time this happened the DJIA went up 490 points the next day.
Don’t worry, we can always print more.
Hmmm...catalyst for a bank run?
This is why the pressure is on Merkel to buy bonds from the PIGS. Private banks already are overloaded. Any write offs or default are going to kill them. And, given that we are part of a World Economy, it cannot be walled-off from the US economy.
As things have progressed the last four years it has become more and more clear that none of these authorities knows what to do. Just like in the early 1930s the monetary and financial institutions blindly move from one ineffectual policy to another. And political considerations prevent them from taking a course and sticking with it which might even work. But moving back and forth between prescriptions just makes the disease worse.
Well, it is 5 PM EDT, and there is no sign of these downgrades......yet.
In a way I’m kinda glad to see it. Perhaps this will further open the eyes of the ‘every problem has a racist cause’ crowd. Only pain seems to do that for them.
Fraud? Oh I totally believe that. The stress tests (snicker) were just words for public consumption. Pretty much like everything out of the Dem/Socialists/Communists mouths. But now they are stuck.
Chickens roosting and all that. I am not happy for the people about to get it in the shorts, but to me, anyone with sense would have exited the market a LONG time ago.
But play with fire...and get burned.
Doesn’t seem to affect Wells Fargo. REIT’s took a hit.
—Were whispers about this the reason the market cratered today?—
I confess I had to go back to my.yahoo to see what happened today. I don’t believe in coincidences regarding things like this. No insider trading though, Nope, nope, nope.
We’ve been throwing away millions, and billions, and trillions for so long.... “They” have us ordinaries thinking there is a bottomless pit of millions, and billions, and trillions, somewhere!
MAYBE, if we could actually see SOMEBODY actually crash and burn, we ordinaries could get perspective on what’s happening, some real life connection or sense of actual worth of these vast amounts of dollars.
None of us could play these games with a few thousand dollars, and not be in jail.
Silver’s tanking too. I wonder if this is another rush to the dollar sort of thing.
Oil tanked as well.
Not to worry, this will not be released until the Friday evening bad news dump.
Morgan Stanley cut two notches.
Bank of America down one notch.
Citigroup cut two notches
Goldman Sachs down two notches
Morgan Stanley cut two notches to Baa1 from A1.
Bank of America cut to Baa2, outlook negative.
Citi cut to Baa2.
JP Morgan cut two notches to A2 from AA3.
Credit Suisse cut three.
Goldman cut to A3.
HSBC cut to AA3 from AA2, one notch.
UBS cut two notches.
RBS cut cut to Baa1 from A3.
BNP cut to A2, outlook negative.
Here is something worth noting: ONLY WELLS FARGO WAS LEFT UNTOUCHED !!
That's 'cause they felt sorry for the,m--still rifding around in a stagecoach and all.....;)
Thanks for the full report—couldn’t type fast enough as it was coming on CNBC.
I thought BOA had already filed some reorganization plan or had some other restructuring effort going on...
Not exactly true.
Lehman Brothers untouched also. ;)
How can this be? Aren't the big banks run by the best and brightest the world has to offer?
Isn't this why they are paid the BIG, BIG bucks?
I hope silver tanks HARD, I want to buy another 300 ounces.
Just went and looked. Both gold and silver were down, but not a lot by the time all the commodity trading was done.
—I hope silver tanks HARD, I want to buy another 300 ounces.—
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