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 ...
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.—
Exactly!
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