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Moody's planning a downgrade of big banks and they react


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Does anyone actually listen to these guys?


Unfortunately yes.  It's really sad actually.  The rating agencies used to perform valuable services and were an asset to the investing world.  As with many things, the lure of easy money became too much to overcome.  While in some respects they still do perform valuable services, their reputation has been tainted to such a degree that I don't believe they can ever actually get back what they once had.

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