Why Moody's 15 bank downgrades matter
Ratings cuts can cost global banks big money. But regional banks could find opportunity in the fallout.
Moody's, Standard & Poors, is this not the same agencies that gave those junk mortgage derivatives AAA ratings during the 08 housing meltdown. Why were there not a congressional investigation as to why these ratings agencies were working so close with the big Wall Street lending institutions...Why were they not asked where they come up with the AAA ratings for the junk that made people think they were good investiments.
Part of the Wall Street coruption is the the corruption of these ratings agencies, they need to be investigated, they are not untouchable or above the law!
Oh your little ignorant 1930's dirt farmer fears of the banks. Sure, some are bad. But without them, the economy grinds to a much worse halt than we've seen so far.
Again, pointing and laughing at the little guy's ignorance. Is my filet mignon prepared yet, Winston?
In the meanwhile, Wall St and bankster bonuses flow like Cristall champagne.
Business as usual.
If you have ever done any business with these banks in the investment equity arena, you are constantly amazed by how much more 32 y.o. MBAs sitting in an office tower in Manhattan know than guys in the business they are investing in that have been doing what they do for 25 years.
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