Moody's Cuts U.S. Banking System To Negative

[Thunk]

Moody's cuts outlook on U.S. banking system to negative, citing 'rapidly deteriorating operating environment'

Moody's Investors Service cut its view on the entire banking system to negative from stable.

The big three rating firm cited a "'rapidly deteriorating operating environment" despite regulators' efforts to shore up the industry.


Moody's cuts outlook on U.S. banking system to negative, citing 'rapidly deteriorating operating environment'

 

[Moonglow]

Maybe we should go ahead and slice our gutz open and drop interest rates to zero again for the benefit of the wealthy bastards that rob the poor?

 

[Manonthestreet]

Glad I use a small three branch local bank

 

[Jessica-stormlover]

Republican deregulation comes home again!!! These billionaires should be hung in trees.

 

[saveliberty]

Gee thanks Moody's. Timing is everything. Also banks are suppose to undergo what they term stress tests a couple times a year. Regulators either didn't do the tests or blindly followed what the bank told them. Moody's rating was four steps ABOVE where this bank belonged even before the meltdown. Someone might want to mention the 500 bank closures since 2009. We only hear about the ones that happen near us or the big ones.

 

[Meister]

Glad I use a small three branch local bank

Same here, it's a win-win for me and the community.

 

[saveliberty]

Republican deregulation comes home again!!! These billionaires should be hung in trees.

Ever hear of a guy named Barney Franks?

 

[Thunk]

despite regulators' efforts to shore up the industry.

 

[Meister]

Gee thanks Moody's. Timing is everything. Also banks are suppose to undergo what they term stress tests a couple times a year. Regulators either didn't do the tests or blindly followed what the bank told them. Moody's rating was four steps ABOVE where this bank belonged even before the meltdown. Someone might want to mention the 500 bank closures since 2009. We only hear about the ones that happen near us or the big ones.

My understanding is that the regulators were aware of the potential problem late last year and failed to act on what they knew.

 

[marvin martian]

Moody's cuts outlook on U.S. banking system to negative, citing 'rapidly deteriorating operating environment'

Moody's Investors Service cut its view on the entire banking system to negative from stable.

The big three rating firm cited a "'rapidly deteriorating operating environment" despite regulators' efforts to shore up the industry.


Moody's cuts outlook on U.S. banking system to negative, citing 'rapidly deteriorating operating environment'

View attachment 765809

Joe Biden's Amerika!

 

[Thunk]

Ever hear of a guy named Barney Franks?

I took my mom grocery shopping & asked her if she wanted a box of barney franks...I handed her a box of good & fruitys

 

[multivita-man]

Gee thanks Moody's. Timing is everything. Also banks are suppose to undergo what they term stress tests a couple times a year. Regulators either didn't do the tests or blindly followed what the bank told them. Moody's rating was four steps ABOVE where this bank belonged even before the meltdown. Someone might want to mention the 500 bank closures since 2009. We only hear about the ones that happen near us or the big ones.

Solid post.

 

[Thunk]

We could lose the global reserve currency status.

This is bad! Really REALLY bad!

 

[Harpy Eagle]

Glad I use a small three branch local bank

I am glad I do not have more than 250 grand in any one bank

 

[multivita-man]

despite regulators' efforts to shore up the industry.


View attachment 765815

I guess this is Moody's way of saying show your work. One day after the collapse doesn't count. Moody's can't be blamed here, even though I agree that they, too, were caught asleep at the wheel. AFAIK, they filed the paperwork. No paper shredding.

 

[Thunk]

These billionaires should be hung in trees.

Ya mean the billionaires that biden just bailed out

 

[multivita-man]

We could lose the global reserve currency status.

This is bad! Really REALLY bad!

What are people going to run to - Bitcoin? The RMB?

I do expect some hedging to things like the Yen, RMB, Euro, but I don't think this downgrade alone would do it. What worries me more is the debt ceiling, but now in addition to this, the bailout is basically a form of quantitative easing, as we are using Fed money to keep conditions loose -- not for individual lowlifes like me, but for fucking multimillionaire venture capitalists. We're bailing out rich people at a time when inflation is hardly tamed. That effectively does put more pressure on the credibility of our financial system.

 

[Thunk]

Moody's can't be blamed here, even though I agree that they, too, were caught asleep at the wheel.

I remember in 2008 when one rating agency downgraded lehman bros about 3 weeks after it collapsed

 

[saveliberty]

I am glad I do not have more than 250 grand in any one bank

Live dangerously, put in another $1.

 

[saveliberty]

What are people going to run to - Bitcoin? The RMB?

I do expect some hedging to things like the Yen, RMB, Euro, but I don't think this downgrade alone would do it. What worries me more is the debt ceiling, but now in addition to this, the bailout is basically a form of quantitative easing, as we are using Fed money to keep conditions loose -- not for individual lowlifes like me, but for fucking multimillionaire venture capitalists. We're bailing out rich people at a time when inflation is hardly tamed. That effectively does put more pressure on the credibility of our financial system.

Ironically, bitcoin is up big today. Obiviously an even MORE unregulated industry is the answer. Duh