Skip to comments.S&P downgrades 37 global banks
Posted on 11/29/2011 2:21:33 PM PST by Typical_Whitey
FXstreet.com (Barcelona) - S&P rating agency has just downgraded 37 global banks. Goldman, BofA, Citigroup, Morgan Stanley, BNY Mellon are amongst the cuts based on a new methodology. Japanese and UK banks cut or outlook lowered as well.
(Excerpt) Read more at fxstreet.com ...
Here is another link to the story...
Tomorrow will be a bloodbath.
saw this as a flash on Drudge a few minutes ago. Any idea what the immediate repercussions will be?
DJIA up 500.
and that’s even before election season gets into full swing with politicians wailing away on them
Nothing terminal. Some of this is a change in the way the rating companies are doing math and not a change in the condition of the banks.
Most bank stocks are swirling the bowl already, so I don't think they'll be punished by the professional investors.
What are the names of the 37 banks? I’m having difficulty finding out where to look.
trying to figure out the bad guys here.
the rating services picking winners and losers or the banks.
DANGER DANGER DANGER.. and none of our candidates are even discussing it....If we don’t do something dramatic and radical not this debt committee crap that just picks around the edges but seriously radical change. Than the direction that we are headed and the trajectory of our debt means that we are toast. It doesn’t take an MBA to figure this stuff out just digest the data it’s all right at your fingertips..... http://www.usdebtclock.org
The top banks are listed in the first sentance...
Thanks, but I’m interested in ALL banks S&P has listed.
The media is not interested because news like this hurts their candidate. Obama will not even be asked to input on this and even if he did what could he say... This is ultimately a failure of Socialist programs that have been sucking the life blood out of capitalist economies for the last 100 years..... The decline is inevitable many will soon just take what they can get and leave. Ayn Rand prophecy is coming to fruition.
Those stocks have been swirling the bowl since 2008. In the aftermath, several played with some fancy accounting tricks (reverse splits) to make their stock appear more worthwhile. The big problem is that traders an investors seem to have short memories, and are bound to repeat the same mistakes. Watch for the "dead-cat-bounce".
Found these in a USA Today article:
Bank of America
Goldman Sachs Group
Lloyds Banking Group
The Royal Bank of Scotland
Yup. Everything is okay.
“and none of our candidates are even discussing it”
That is because most of them are part of the corrupt system. And the rest are not educated enough on the matter to say a word. I don’t feel sorry for these bankers. They did it to themselves. They did it to us. With all there get rich quick schemes that backfired as simple math would dictate. Even the bailouts which our children would theoretically pay for, Could not save them. But at least they had people well planted in justice so that they could not go to jail.
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