Amouna

Moody’s Downgrades Finland’s Banking System to Negative

What Moody's fails to understand is that the Finnish banking system underwent a complete collapse in 1991 and emerged stronger and more Black-Swan resistant, which explains why the Finnish banks never gorged themselves on toxic assets when the party was raging over here.

Another absurd story was the downgrade of Moody's of New Zealand's Sovereign debt while the US keeps the printing presses running 24 hrs a day. How can we trust morons like these?