REPORT: MASSIVE MOODY'S BANK DOWNGRADES TO HIT IN A FEW MINUTES

Business Insider ^ | 06/21/2012 | Eric Platt

[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.

[proxy_user]

Well, it is 5 PM EDT, and there is no sign of these downgrades......yet.

[Norm Lenhart]

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.

[therightliveswithus]

Very true

[AppyPappy]

Doesn’t seem to affect Wells Fargo. REIT’s took a hit.

[cuban leaf]

—Were whispers about this the reason the market cratered today?—

HAHAHA!

Duh.

;-)

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.

[WestwardHo]

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.

[cuban leaf]

Silver’s tanking too. I wonder if this is another rush to the dollar sort of thing.

[AppyPappy]

Oil tanked as well.

[Mr. Jeeves]

Yeah, now Moody's does this. Where were they in early 2008 when the exact same conclusions could have been drawn?

[Sea Parrot]

Not to worry, this will not be released until the Friday evening bad news dump.

[exit82]

Morgan Stanley cut two notches.

Bank of America down one notch.

Citigroup cut two notches

Goldman Sachs down two notches

[CodeToad]

[djf]

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.

[SeekAndFind]

Here is something worth noting: ONLY WELLS FARGO WAS LEFT UNTOUCHED !!

[exit82]

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.....;)

[exit82]

Thanks for the full report—couldn’t type fast enough as it was coming on CNBC.

[Theoria]

Headline: Zombie Banks cut down

[blam]

MOODY'S DOWNGRADES GLOBAL BANKS

[djf]

I thought BOA had already filed some reorganization plan or had some other restructuring effort going on...

[SnuffaBolshevik]

"Here is something worth noting: ONLY WELLS FARGO WAS LEFT UNTOUCHED !!"

Not exactly true.

Lehman Brothers untouched also. ;)