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REPORT: MASSIVE MOODY'S BANK DOWNGRADES TO HIT IN A FEW MINUTES
Business Insider ^ | 06/21/2012 | Eric Platt

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 ...


TOPICS: Business/Economy
KEYWORDS: bankdowngrades; banks; downgrade; moodys; wellsfargo
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1 posted on 06/21/2012 1:32:30 PM PDT by SeekAndFind
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To: SeekAndFind

Not possible. I have it on good authority the private sector is doing fine.


2 posted on 06/21/2012 1:35:55 PM PDT by Norm Lenhart
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To: Norm Lenhart
Not possible. I have it on good authority the private sector is doing fine.

LOL!
3 posted on 06/21/2012 1:37:05 PM PDT by Signalman ( November, 2012-The End of an Error)
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To: Norm Lenhart

Anyone with significant European exposure is going to experience some pain.

As bad as things feel here, Europe is an absolute train wreck.


4 posted on 06/21/2012 1:38:18 PM PDT by VegasCowboy ("...he wore his gun outside his pants, for all the honest world to feel.")
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To: VegasCowboy

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.


5 posted on 06/21/2012 1:41:50 PM PDT by Norm Lenhart
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To: SeekAndFind

This has also happened Unexpectedly™....not.


6 posted on 06/21/2012 1:42:12 PM PDT by Jane Long (Soli Deo Gloria!)
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To: SeekAndFind
Moody's Ratings is set to downgrade the world's largest banks at 4 p.m....

Executive bonuses to be distributed at 4:15 p.m....

7 posted on 06/21/2012 1:43:05 PM PDT by randog (Tap into America!)
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To: Norm Lenhart

You sir win funniest comment of the day.


8 posted on 06/21/2012 1:45:56 PM PDT by therightliveswithus
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To: SeekAndFind

Were whispers about this the reason the market cratered today?


9 posted on 06/21/2012 1:46:04 PM PDT by FrogMom (There is no such thing as an honest democrat!)
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To: SeekAndFind

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.


10 posted on 06/21/2012 1:46:23 PM PDT by RobertClark (Be prepared, be polite, be professional and have a plan to kill everyone you meet.)
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To: SeekAndFind
From what I hear, JPM has derivative exposure in the trillions!!!
11 posted on 06/21/2012 1:49:18 PM PDT by djf ("There are more old drunkards than old doctors." - Benjamin Franklin)
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To: SeekAndFind

After the Market closed.


12 posted on 06/21/2012 1:49:53 PM PDT by arrogantsob (Obama must Go.)
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To: therightliveswithus

Perhaps. But I so wish it wasn’t.


13 posted on 06/21/2012 1:51:07 PM PDT by Norm Lenhart
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To: SeekAndFind

More here on cnbc: http://www.cnbc.com/id/47903018


14 posted on 06/21/2012 1:53:00 PM PDT by rawhide
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To: Norm Lenhart
Fox Business says as many as 17 Banks are going to be downgraded.

What was Obama's stress test that passed the Banks a fraud?

15 posted on 06/21/2012 1:53:00 PM PDT by scooby321 (h tones)
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To: Norm Lenhart

Yep. To paraphrase Margaret Thatcher, the European Socialists are about to run out of other people’s money.


16 posted on 06/21/2012 1:53:17 PM PDT by VegasCowboy ("...he wore his gun outside his pants, for all the honest world to feel.")
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To: SeekAndFind

The last time this happened the DJIA went up 490 points the next day.


17 posted on 06/21/2012 1:55:54 PM PDT by DuncanWaring (The Lord uses the good ones; the bad ones use the Lord.)
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To: VegasCowboy

Don’t worry, we can always print more.


18 posted on 06/21/2012 1:55:54 PM PDT by RetroSexual
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To: scooby321

Hmmm...catalyst for a bank run?


19 posted on 06/21/2012 1:56:33 PM PDT by J. Worthington
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To: VegasCowboy

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.


20 posted on 06/21/2012 1:58:04 PM PDT by arrogantsob (Obama must Go.)
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