Moody’s Follows Through on Banks’ Downgrade Threat

Late yesterday, after Wall Street closed, several of the world’s largest banking firms saw their credit ratings downgraded by Moody’s. Among the major banks which were downgraded were U.S.-based Bank of America, JP Morgan Chase and Citigroup, Germany’s Deutsche Bank, the U.K.’s Barclays, and Switzerland’s Credit Suisse. Read more