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Moody's rating service downgraded fifteen banks, including five of the US's top banks - piling on the bad economic news.
Too big to be failing?
In addition to cutting Morgan Stanley's long-term rating by two notches, Moody's also reduced long-term ratings by two levels at Goldman Sachs Group Inc.,GS -2.74% J.P. Morgan Chase & Co. andCitigroup Inc. C -3.57%
Bank of America Corp.'s long-term debt was downgraded by one notch. Ratings atWells Fargo WFC -1.43% & Co., which has a smaller investment-banking operation, weren't reviewed.
Posted on June 22, 2012 at 01:43 AM in Business, Current Affairs, Economy, Politics | Permalink
bank of america, banks, bofa, citigroup, downgrade, economy, goldman sachs, jpmorgan, moody's, morgan stanley, ratings, wall street
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