Friday, June 22, 2012

Moody's Downgrades 15 Big Banks

Because of the tail risk -- the likelihood of huge losses -- that their capital market operations exposes them to. They also got slammed for the opacity and complexity of these activities. Opacity? Hmm, this reminds me of how opaque the irrelevant stimulus package was at the beginning before rapidly becoming redundant.

Have a look at the interesting report which some claim is five years late.

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