Moody's Blues: Riskier to Bank on US Banks

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.