Feeds: Email, RSS & Twitter

Get Our Videos By Email


8,300 Unique Visitors In The Past Day


Powered by Squarespace


Search The Archive Of 15,000 Videos




Hank Paulson Is A Criminal - Pass It On

"The Federal Reserve Is A Ponzi Scheme"

Get Our Videos By Email


Bernanke's Replacement: Happy Hour In Santa Cruz

Must See: National Debt Road Trip

"Of Course We're Not Going To  Payback the Chinese."

Dave Chappelle On White Collar Crime

Carlin: Wall Street Owns Washington

SLIDESHOW - Genius Signs From Irish IMF Protest

SLIDESHOW - Airport Security Cartoons - TSA

Most Recent Comments
Cartoons & Photos
« Video: Ron Paul: "88% Of Fed Bailout Loans Went To Foreign Banks, And 100% Of NY Fed Loans" (Congressional Hearings 6-1-2011) | Main | Mitt Romney Officially Declares For 2012 Race, Attacks Obama: "All He Does Is Throw Your Money At The Problem" »

BofA, Citi, Wells Fargo Among Banks Moody’s May Cut

Consider us in the camp of "We'll believe it when we see Ken Lewis crying..."



Bank of America Corp. (BAC), Citigroup Inc. (C) and Wells Fargo & Co. (WFC) may be downgraded by Moody’s Investors Service as the rating firm reviews whether the government will limit its support of the largest financial firms.

The banks’ present ratings are based on “uplift from Moody’s systemic support assumptions that were increased during the financial crisis,” the ratings firm said in a statement today. A review by Moody’s will “focus on whether these ratings should be adjusted to remove this unusual uplift and include only pre-crisis levels of government support.”

The banks are considered by investors to be too big to fail after receiving government aid in 2008 to bolster the financial system. Lawmakers have overhauled regulations and passed the Dodd-Frank legislation to avoid a repeat of the bailouts that aided firms including Charlotte, North Carolina-based Bank of America, which received $45 billion in assistance.

“‘The U.S. government’s intent under Dodd-Frank is very clear,” said Moody’s Senior Vice President Sean Jones. “It does not want to bail out even large, systemically important banking groups.”

Continue reading...


PrintView Printer Friendly Version

EmailEmail Article to Friend

Reader Comments

There are no comments for this journal entry. To create a new comment, use the form below.

PostPost a New Comment

Enter your information below to add a new comment.

My response is on my own website »
Author Email (optional):
Author URL (optional):
All HTML will be escaped. Hyperlinks will be created for URLs automatically.