MMC
06-22-2012, 02:26 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!!!!!
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!!!!!