adding that hell has a better chance of freezing than any British bank failing.
Sharon Lorimer
The 12 banks, among them the two part-nationalized banks Royal Bank of Scotland (RBS) [RBS-LN 26.14 0.84 (+3.32%) ] and Lloyds Banking Group [LLOY-LN 36.51 0.23 (+0.63%) ], had been under review by the ratings agency since May and a downgrade in their credit ratings was widely expected by the markets.
But the move did lead to fears about the solvency of at least one of the banks, RBS, following reports it might need another bailout in the Financial Times, and about the overall health of the UK banking sector as a result.
Analysts were quick to defend Britain’s banks, pointing out the downgrades were not reflective of the situation in the City of London and that British banks’ exposure to the euro zone debt crisis was less than in other countries such as France and Germany.
“Moody’s is supposed to tell us what is going to happen not what has happened," David Buik market analyst at BGC Partners told CNBC.com. "I thought it was pouring salt into the wound unnecessarily and I thought the timing was atrocious. They [Moody’s] are trying to rebuild their reputation after the subprime crisis, I think they should be very careful how they do this."
“The downgrade is irrelevant and it’s a bit ridiculous. Why do we want to frighten people when both Lloyds and RBS are virtually entirely state owned? Hell has a better chance of freezing over than the government
http://www.cnbc.com/id/44859739
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MAYBE CAUSE IT'S THE FRIGGIN TRUTH/REALITY!!!!!!!!!!!!!! HAAAAAAAAAAAAAA
I refer to my siggy line,,,,,,,,,,,,,God forbid folks get the truth of the situation,,,,,,,,,,
Everybody in America is soft, and hates conflict. The cure for this, both in politics and social life, is the same -- hardihood. Give them raw truth.
Realist - Everybody in America is soft, and hates conflict. The cure for this, both in politics and social life, is the same -- hardihood. Give them raw truth.
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