Moody’s P*wns the Italian Banksters – 26 Banks Downgraded

by John Galt May 14, 2012 17:35 ET   Moody’s unleashed a firestorm with this release today piling on top of the Greece fire:   Moody’s downgrades Italian banks; outlooks remain negative   Excerpt from the official statement at the link above:   The ratings for Italian banks are now amongst the lowest within advanced European countries, reflecting these banks’ susceptibility to the adverse operating environments in Italy and Europe. Today’s rating actions reflect, to differing degrees for each affected bank, the following key drivers:   1.) Increasingly adverse operating conditions,…

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