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Major banks downgraded by Moody's

Discussion in 'Political Issues' started by Ruble Noon, Jun 21, 2012.

  1. rj1939

    rj1939

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    Not to worry, futures are up for most if not all the downgraded banks................I suppose any rating above "junk" is a winner for them.
     

  2. Cavalry Doc

    Cavalry Doc MAJ (USA Ret.)

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    Couldn't we call them "Large" banks instead of "Major" ?
     
  3. beforeobamabans

    beforeobamabans FYPM

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    Moody's is recognizing what the market priced in back in 2008. Nothing new here and it is not effecting the markets. The is more a statement about Moody's incompetence than it is any change in the banks status.
     
    Last edited: Jun 21, 2012
  4. Glock30Eric

    Glock30Eric .45 ACP

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    It doesn't do anything but that's what we need to see.

    Outdoor Hub mobile, the outdoor information engine
     
  5. barbedwiresmile

    barbedwiresmile Unreconstructed

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    Sadly, these 'downgrades' were a farce. Check out Morgan's sweatheart deal with that saved them from a 2+ downgrade.

    "..and two notches of uplift owing to Moody's belief that there is a high likelihood that Morgan Stanley, as a systemically important financial institution, would receive support from the US government in the event such support was required to prevent a default."

    Indeed. Substitute "generations of U.S. tax chattel" for "US government" anf you're dead on.
     
  6. barbedwiresmile

    barbedwiresmile Unreconstructed

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    BTW, shares rose on the news. Already baked into the cake. Just not your cake.