Credit rating agency Moody's downgrades 15 major global banks

[Texashiker]

Bulletin at top of CNN,

Credit rating agency Moody's downgrades 15 major global banks, including Bank of America and JPMorgan Chase.

Interesting how the stock market went down 250 points today, and this news did not hit the news sites until after the markets closed.

First link:

http://www.foxbusiness.com/industries/2012/06/21/moodys-downgrades-global-banks/

 

[jackstar7]

-250pts is considered a crash?

 

[Pr0d1gy]

Does it really even matter anymore? It's not strange the market dropped before the news broke because insider trading is the only way to fly on Wall Street now. The people in the know pulled out, causing a dip....not a crash.

 

[Pneumothorax]

Does it really even matter anymore? It's not strange the market dropped before the news broke because insider trading is the only way to fly on Wall Street now. The people in the know pulled out, causing a dip....not a crash.

I would guess with 99.9999997% certainty that if we subpeonaed moody's employees Cell phone/texting/email records we'd find plenty of evidence of insider trading.

 

[the DRIZZLE]

Does it really even matter anymore? It's not strange the market dropped before the news broke because insider trading is the only way to fly on Wall Street now. The people in the know pulled out, causing a dip....not a crash.

Insider trading is rampant but this has been known for weeks so I'm surprised the market moved on the news.

 

[Thump553]

That Moody's downgrade was expected news, I remember seeing it predictedin our local paper a week or two ago. And a 250 dive is about 2%, a heavy hit for one day but not a crash per se. Interesting though both oil and gold also declined a lot. Where the safe haven is the big money is running to I don't know.