In addition to downgrading the entire banking system, Moody's also issued warnings for several individual banks "with substantial unrealized securities losses and with non-retail and uninsured US depositors" that "may still be more sensitive to depositor competition or ultimate flight" and end up "with adverse effects on funding, liquidity, earnings and capital."
The specific institutions being monitored by Moody's for "potential downgrades" include INTRUST Financial, Western Alliance, Comerica, Zions Bancorp, and First Republic.
Markets, however, did not seem to move much on the news.
The recent issue with U.S. banks is one that came about, as Rep. Thomas Massie (R-KY) explained this week, through actions taken by the Federal Reserve.
The Fed took those actions in a bid to tackle inflation created by the Biden administration, the guys that caused the debacle in Afghanistan
...the collection of boodlers, grifters, hangers-on, and self-proclaimed expertsaffiliated with the Biden Crime Family. Entrusted with an entire nation as the result of a suspicious election, they set about happily implementing stuff they absorbed in college, all of which blew up and splattered the rest of us...
's tax-and-spend agenda. The Biden administration then stepped in, after banks failed amid a high interest rate environment, to bail out the failed institution, reacting to a swirling economic mess for which he's almost solely responsible. As always, Biden swooped in with an alleged "solution" to a problem he created. And it's straight out of the Big Governmentâ„¢ playbook.