Richard Woolnough sees further downgrades of the U.K. banks coming as Moody's specifically...


Richard Woolnough sees further downgrades of the U.K. banks coming as Moody's specifically pointed out the lenders' "large cross-border trading and derivative books." Why would the state want to support such activity? He sees the U.K. pulling back from further aid for the lenders, hence, deteriorating credit quality.
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