Moody's considering more bank downgrades
Apparently, Moody's Investor Service (MCO) is deciding to take the proclaimed death of Too-Big-To-Fail banks somewhat more seriously. The rating agency said Thursday it's considering whether the nation's largest banks are ready for a world without an implicit government guarantee. Per Forbes:
The firm is considering reducing its assumptions of government support, which have put a floor under its bank ratings dating back to the extraordinary assistance provided to the banking sector during and after the 2008 financial crisis.