Posted on 06/21/2012 2:54:17 PM PDT by scooby321
The markets have been awaiting this day since Moody’s put under review for a downgrade the credit ratings for 17 large global banks back in February, including five of the biggest U.S. financial firms by assets.
The downgrades are expected to raise borrowing costs and crimp some lucrative trading businesses at the banks, including at J.P. Morgan, Bank of America, Citigroup, Goldman Sachs and Morgan Stanley.
(Excerpt) Read more at blogs.wsj.com ...
Let’s see how Jay Carney spins this into a ‘good thing’ for Obammy.
Strange - Usually bad news is put out on Fridays after the markets close.
Well for sure, it won´t be the fault of THIS administration. They´ll find something else to put the blame on, Europe, or a tsnami in Japan, or a narco war in Mexico.
Easy. It’s Bush’s fault.
Obama is merely trying to mop up the mess he was left with, and he needs another 4-1/2 years to do it. Plus an end to Republican obstructionism in congress.
For what the crooks at Morgan Stanley did to my 401k, I hope they go under!
interesting nic, I’ve owned around 5 vette’s over the past 30 years.
That private sector just keeps doing “finer and finer”. Damn.
>> That private sector just keeps doing “finer and finer”. Damn.
I’m confused; is “banking” a component of the private sector? Or is it part of the federal government? :-)
Time to put my savings under the mattress. Of course, eventually, the dollar bills will be worthless.
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