The credit ratings agency Moody's has downgraded 15 banks and financial institutions. UK banks downgraded include Royal Bank of Scotland, Barclays and HSBC. In the US, Bank of America, Citigroup, Goldman Sachs and JP Morgan are among those marked down. ... The other institutions that have been downgraded are Credit Suisse, UBS, BNP Paribas, Credit Agricole, Societe Generale, Deutsche Bank, Royal Bank of Canada and Morgan Stanley.IOW: ALL THE WORLD'S MAJOR BANKS ARE IN TROUBLE.
THE EURO-CRISIS MAY VERY WELL DO TO THE WORLD'S FINANCIAL SECTOR WHAT THE COLLAPSE OF THE REAL ESTATE BUBBLE DID HERE.
IOW: WE'RE F*CKED.