Thursday, June 21, 2012

Cue the Apocolypse? Moody’s Cuts Credit Ratings of 15 Big Banks

This isn't good news that was just sent by an NY Times News Alert:

Moody’s Cuts Credit Ratings of 15 Big Banks
Moody’s Investors Service has lowered the ratings of some of the world’s largest banks, including Bank of America, JPMorgan Chase, Citigroup and Goldman Sachs.
The ratings agency said late Thursday that the banks were downgraded because their long-term prospects for profitability and growth are shrinking.