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Can't make this stuff up. Moody's upgrades its outlook on the U.S. banking system (XLF) to...

Can't make this stuff up. Moody's upgrades its outlook on the U.S. banking system (XLF) to Stable from Negative, citing "continued improvement in the operating environment and reduced downside risks to the banks from a faltering economy." The outlook had been Negative since 2008.
Comments (3)
  • Warren must need something.....a favor or something
    28 May 2013, 11:15 AM Reply Like
  • Well, just in case there were still 5 or 6 people out there who didn't know how utterly useless the ratings agencies were and are, Moody's wanted to make sure those few got the message, too. It's like a public service of sorts.
    28 May 2013, 11:26 AM Reply Like
  • Moody's has pretty well proven its worth/reliability. But considering that the banking industry's influence over the NY fed has been successful enough to result in 40 bil./mo in purchase of its worthless securities CDOs, its a fair assumption that reigns are held by those who'll continue to do far better than worse. Personally, it seems as though the old mob saying of "bending back like the rushes when the water flows swiftly" comes into play more than any other. Simply wouldn't do for banks to fair too well so soon after reaching popular consensus as "the culprits". But the comeback is timed, prepared, and in the offing. Who dare doubt Goldman Sachs and kindred? The culprits got away scot free and will be back in force, and the time is near for gnat-length attention spans of popular sentiment to find another light to be drawn to, and the rushes to rise again.
    12 Jun 2013, 01:38 AM Reply Like
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