Moody's Maintains Negative Outlook On Spanish Banks

Bloomberg:

The outlook for the Spanish banking system remains negative because profitability will be "severely tested" as loan demand falls and defaults and funding costs increase, Moody's Investors Service said.

Read the whole story: Bloomberg

Comments

[aNdYtm]

03:54 PM on 12/13/2010

Now, who is going to rate Moody?

I say, it is a fraudulent and untrustworthy company, completely in cohorts with the Wall Street and is a contributor the mortgage and financial crisis. Rating a -- F

[tercio]

03:25 PM on 12/13/2010

I am afraid that the Banks in Spain couldn't care less, since the consecuences of Moody's negative ratings are going to be laid upon the Spanish tax payers, as usual. The benefits will go to off-shore banks and speculators or philanthropist, as they are called today, like Mr. Soros or Mr. Buffet, who btw is one of Moody's large stake holders.

[G8R4Obama]

10:18 AM on 12/13/2010

This is nothing more than another part of the plot by Wall Street to destroy the euro, as it is the only real competitor to the dollar as the world's reserve currency. In the process, the big banks will suck up all of the wealth of the country in the process, then move on to the next. Moody's and the other "credit rating" agencies are completely in the hands of the big Wall Street banks - they should have no credibility at all.