Moody's Hammer To Fall At 4 PM
From Bloomberg citing CNBC, which apparently is where Moody's leaked all its data
- MOODY’S TO UNVEIL BANK DOWNGRADE AT 4PM: CNBC
- CNBC SAYS B OF A L-T DEBT RATING TO BE CUT BY 1 NOTCH BY MOODYS
- CNBC SAYS CITI, JPM AND GS L-T DEBT RATING WILL BE CUT 2 NOTCH
So... this leaves Morgan Stanley with the dreaded 3 notch cut which automatically springs up to $9.6 billion margin calls and memories of AIG? Assume crash positions.
Oh, and for our Canadian friends:
- CNBC SAYS THE MOODY’S ACTION WILL INCLUDE 1 BANK FROM CANADA