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Thursday, June 21, 2012 10:55:13 PM
Moody’s Cuts Credit Ratings of 15 Big Banks
Moody’s approach reflects its belief that large banks have fundamental weaknesses that could still hurt their creditors. Along with Citigroup and Bank of America, the credit rating agency took action on 13 other banks, Morgan Stanley, JPMorgan Chase, Goldman Sachs, Credit Suisse, Deutsche Bank, UBS, HSBC, Barclays, BNP Paribas, Credit Agricole, Societe Generale, Royal Bank of Canada, and Royal Bank of Scotland.
But some analysts feel that Moody’s is playing a game of catch-up. The latest actions, say critics, are backward-looking and do not take into account the measures that banks have taken to strengthen themselves, including raising capital and getting out of certain risky businesses like proprietary trading.
http://dealbook.nytimes.com/2012/06/21/moodys-cuts-credit-ratings-of-15-big-banks/
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Those Not on the List
Moody’s approach reflects its belief that large banks have fundamental weaknesses that could still hurt their creditors. Along with Citigroup and Bank of America, the credit rating agency took action on 13 other banks, Morgan Stanley, JPMorgan Chase, Goldman Sachs, Credit Suisse, Deutsche Bank, UBS, HSBC, Barclays, BNP Paribas, Credit Agricole, Societe Generale, Royal Bank of Canada, and Royal Bank of Scotland.
But some analysts feel that Moody’s is playing a game of catch-up. The latest actions, say critics, are backward-looking and do not take into account the measures that banks have taken to strengthen themselves, including raising capital and getting out of certain risky businesses like proprietary trading.
http://dealbook.nytimes.com/2012/06/21/moodys-cuts-credit-ratings-of-15-big-banks/
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.
.
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Those Not on the List
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