Financial Banking Crisis 2011 S&P Downgrade Spree, Hits Most U.S. Banks
Date: 11/29/2011
Financial Banking Crisis 2011 S&P Downgrade Spree, Hits Most U.S. Banks (VIDEO)
S&P Goes On a Massive Banking Downgrade Spree, Hits 37 U.S. Banks! In this live stock market education video will cover all the recent banking sector moves after hours as markets have just been dealt a dose of global bank downgrades by S&P.
Global stress on the financial markets means forced liquidation, margin debt selling this is the main reason why we saw NASDAQ and technology related stock selloff the hardest today. Will Germany save Europe?
S&P Downgrades Goldman Sachs, Bank Of America, Wells Fargo, and Citigroup to an "A-" minus rating, down from an "A" rating.
Bank of America N.A. (BAC) to A from A+
Bank of New York Mellon Corp. (BK) to A+ from AA-
Barclays PLC (BCS) to A from A+
Citibank N.A. (C) to A from A+
Goldman Sachs & Co. (GS) to A from A+
JPMorgan Chase & Co. (JPM) to A from A+
Morgan Stanley (MS) to A- from A
Wells Fargo Bank N.A. (WFC) to AA- from AA
Today's Banking Headlines: European Banks Downgrade; Record Yields in Italian Debt. Moody's downgrade threat forces SG to extend tender. US ratings agency threatens further European bank downgrades. S&P Lowers Local-Currency Rating On Romania To Junk. Discover Downgraded To Neutral. Britain's economic growth downgraded. Obama Presses EU Leaders on Resolving European Debt Crisis.
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