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View Full Version : Moody's Cuts Ratings on Worlds 15 Biggest Banks.....



MMC
06-22-2012, 03:26 AM
http://l2.yimg.com/bt/api/res/1.2/rfYPnnGEsPSUC9QO4xHA8Q--/YXBwaWQ9eW5ld3M7Y2g9MjgwO2NyPTE7Y3c9NDUwO2R4PTA7ZH k9MDtmaT11bGNyb3A7aD0xMTk7cT04NTt3PTE5MA--/http://media.zenfs.com/en_us/News/Reuters/2012-06-22T061657Z_3_CBRE85K1OGP00_RTROPTP_2_FINANCIAL-MOODYS.JPG

CHARLOTTE, N.C./LONDON (Reuters) - Ratings agency Moody's downgraded 15 of the world's biggest banks on Thursday, lowering credit ratings by one to three notches to reflect the risk of losses they face from volatile capital markets activities, but banks criticized the move as backward looking.

"All of the banks affected by today's actions have significant exposure to the volatility and risk of outsized losses inherent to capital markets activities," Moody's Global Banking Managing Director Greg Bauer said in the announcement.

Financial markets have been bracing for the downgrades since February, when Moody's Investors Service said it had launched a review of 17 banks with global capital markets operations. These companies faced diminished profitability and growth prospects due to difficult operating conditions, increased regulation and other factors, Moody's said.....snip~

http://news.yahoo.com/moodys-cuts-ratings-15-banks-morgan-stanley-down-004301577--sector.html
Reuters 45 mins ago<<<<<


Other banks downgraded by two notches were: Barclays, BNP Paribas, Royal Bank of Canada, Citigroup, Goldman Sachs Group, JPMorgan Chase, Credit Agricole, and Deutsche Bank.
Along with HSBC, ratings for Bank of America, Royal Bank of Scotland and Societe Generale were also cut by one notch.
Nomura and Macquarie were included in an original list of global banks under review, but have already been downgraded.

(Citigroup went beyond defending itself to blasting Moody's for its treatment of U.S. banks in general, and then to praising institutional investors and the U.S. Congress for showing less respect for the agency).....snip~

Here these Credit Rating Agencies down-grade Sovereign Countries credit ratings. Then all the Banks around the World. IMO these little Pencil Pushers who do nothing but sit behind a desk and can barely handly life in general, have gotten to big for their britches. If I was these guys.....I would start looking for a rock to crawl under.

Some of these Leaders from Other Countries might want to make a shinning example out of these lil pencil pushers. Myself, I wouldn't be against it either. Nothing like letting a bunch of pansy lightwieghts trying to act like loan-sharks. Sometimes a Loan-Shark comes across those that actually have power. Usually thats when you hear about some con-man getting his come-uppance. Time for some Credit Agencies to open their eyes to the way of the world and learn that lesson.

All is Fair in Love and War!!!!!

gophangover
06-22-2012, 09:45 AM
...and nobody sees a pattern here? Ireland, Grease, Portugal, Spain, Italy, and now 15 more U.S. banks. It's all part of the "Grand Deception" to enslave the whole world, and all the sheep line up to get sheered. Mega corporations like big oil are helping the BEAST take the world down to perdition, and the sheep defend them. When gas was $4.00 a gallon oil was $150.00 a barrel. Now oil is $78.00 a barrel and gas is $3.59 a gallon. Anybody but a sheep would know that gas should only be $2.00 a gallon. Go ahead and defend the BEAST. You deserve what you get.

Deadwood
06-22-2012, 10:04 AM
What is astonishing is how little coverage this is getting. And, typically, Italy, Spain etc. are STILL resisting austerity.

That, I think, is what led to this in the first place.

And did anyone catch the Spanish Prime minister this week. Canada's Stephen Harper publicly upbraided the failing countries saying they can't expect bai out funds from Canada unless they trim their spending.

The Spanish prime minister wailed "we don't need to be told how to run our country....."

Right.

Your country is bankrupt and running around to neighbors yelling, 'help, help, I need a paint job for my Mercedes."

MMC
06-22-2012, 10:15 AM
What is astonishing is how little coverage this is getting. And, typically, Italy, Spain etc. are STILL resisting austerity.

That, I think, is what led to this in the first place.

And did anyone catch the Spanish Prime minister this week. Canada's Stephen Harper publicly upbraided the failing countries saying they can't expect bai out funds from Canada unless they trim their spending.

The Spanish prime minister wailed "we don't need to be told how to run our country....."

Right.

Your country is bankrupt and running around to neighbors yelling, 'help, help, I need a paint job for my Mercedes."

Which by Monday Spain will be announcing how much more bailout money they need. They have taken the Austerity. No getting round it now.

Carygrant
06-22-2012, 02:36 PM
Oh, what a sound , when nations collapse .
As I understand it, this is what happens .When you have no money , issue imaginary bonds ( money that doesn't exist until , Bingo , you say that it does ) as a State or a States created institution ( ECB) . Try and sell as many of those bonds to Banks -- they also having no money -- to allow them to purchase Sovereign debt ( through bonds) that were created by the insolvent first parties initially .These banks can then use these imaginary assets or promises as loans to other banks ( at a profit) .
What a web of dreams and deception .
Am I dreaming and rambling or is that the Reaper standing there laughing?

Peter1469
06-22-2012, 05:02 PM
Nations are not collapsing. Economies are; and perhaps currencies. Other nations should follow Iceland's lead and refuse to use tax dollars to cover public and private debt.

MMC
06-22-2012, 06:01 PM
Yeah I don't see Ireland collapsing. Well not any time soon that is.

Carygrant
06-24-2012, 02:30 AM
Nations are not collapsing. Economies are; and perhaps currencies. Other nations should follow Iceland's lead and refuse to use tax dollars to cover public and private debt.


Unfortunately , that is precisely what IS happening .
Obviously we all know the broad economic situation . It ranges from bad to disastrous .
Nations only meaningfully exist through their economies , but more important long term than the hard numbers , are the qualitative and cultural strengths and diversity .
Jump on a plane and visit Spain and Italy --- particularly the south and you will be shouting it out loud
Economic collapse is collapsing the nations -- their backbones , culture and energy .

And from the outside looking in , many of us see the very same signs of it in America --- consumed to the point of obsession by a trivial inter party differences and becoming more violent and Racist . Not a pretty picture .

Trinnity
06-24-2012, 07:48 AM
When I saw HSBC was one of the banks, I cheered. That's the one that charges outrageous fees and rates for a lot of stores and so forth. They also have this scheme where you're paying the interest only, but don't know it. They got us one time over a musical instrument for band and when I found out what they were doing, I was livid. A used instrument was costing us beau-coup bucks.

Peter1469
06-24-2012, 08:40 AM
Unfortunately , that is precisely what IS happening .
Obviously we all know the broad economic situation . It ranges from bad to disastrous .
Nations only meaningfully exist through their economies , but more important long term than the hard numbers , are the qualitative and cultural strengths and diversity .
Jump on a plane and visit Spain and Italy --- particularly the south and you will be shouting it out loud
Economic collapse is collapsing the nations -- their backbones , culture and energy .

And from the outside looking in , many of us see the very same signs of it in America --- consumed to the point of obsession by a trivial inter party differences and becoming more violent and Racist . Not a pretty picture .

I am using the term nation in its literal sense; I am not using it as a replacement for the word "state" (or government). Nations may actually get stronger from economic hard times. Of course, nations that have been forced to become multicultural societies will not fair so well.

Carygrant
06-24-2012, 10:33 AM
I am using the term nation in its literal sense; I am not using it as a replacement for the word "state" (or government). Nations may actually get stronger from economic hard times. Of course, nations that have been forced to become multicultural societies will not fair so well.


If there are nations that "have been forced " to become multicultural , I am fortunate not to live in one by any stretch of the full truth ( UK ).
Possibly France better supports your tentative hypothesis , and though outsiders try to suggest Sweden has being changed irrevocably , it is not a country that is at the hub of matters , even if such claims relating to multiculturism have any validity .
In the UK we have benefited incredibly in many positive ways -- if the Government had foreseen full implications re infrastructure in advance , we could sensibly see matters as an unqualified full success , rather than just very successful .
As for stories about nations getting stronger in really bad times .
Check out what really happened when our cities were bombed by Germany .
On the other hand . Don't check it out . It destroys the sentimental stories that have become accepted . Those were the days where pillage and worse were rife.

Peter1469
06-24-2012, 12:06 PM
If there are nations that "have been forced " to become multicultural , I am fortunate not to live in one by any stretch of the full truth ( UK ).
Possibly France better supports your tentative hypothesis , and though outsiders try to suggest Sweden has being changed irrevocably , it is not a country that is at the hub of matters , even if such claims relating to multiculturism have any validity .
In the UK we have benefited incredibly in many positive ways -- if the Government had foreseen full implications re infrastructure in advance , we could sensibly see matters as an unqualified full success , rather than just very successful .
As for stories about nations getting stronger in really bad times .
Check out what really happened when our cities were bombed by Germany .
On the other hand . Don't check it out . It destroys the sentimental stories that have become accepted . Those were the days where pillage and worse were rife.

What about London? Isn't it called Londonistan now?