Tarpley: Fifteen Insolvent Banks loaded with Toxic Derivatives downgraded by Moody’s

The current world economic depression is a direct consequence of the decision of the United States and other countries in 1999 and 2000 to legalize and deregulate DERIVATIVES.” - Webster Tarpley

Moody’s Downgrades Insolvent World Banks
Zombified by Derivatives Speculation

Webster Tarpley appears on PressTV to discuss Moody’s recent downgrade of several notorious zombie banks. – 2012-06-21

Related Video:
Max Keiser: Banks Are Dead!  - RT talks to RT’s financial guru Max Keiser, who joins us from the International Economic Forum in St. Petersburg…

Related Article:
Extracted from -
Here We Go: Moody’s Downgrade Is Out – Morgan Stanley Cut Only 2 Notches, To Face $6.8 Billion In Collateral Calls, ByTyler DurdenZeroHedge.com – 06/21/2012

In Summary:

  • Bank of America L-T senior unsecured debt cut to Baa2 from Baa1, outlook negative.
  • Barclays L-T issuer rating cut to A3 from A1, outlook negatuve
  • Citigroup L-T senior debt cut to Baa2 from A3, outlook negative
  • Credit Suisse Group L-T deposit, senior rating cut to A1 from Aa1, outlook stable
  • Goldman Sachs Group L-T senior unsecured debt cut to A3 from A1, outlook negative
  • HSBC Holdings L-T senior debt cut to Aa3 from Aa2, outlook negative
  • JPMorgan Chase L-T senior debt cut to A2 from Aa3, outlook negative
  • Morgan Stanley L-T senior unsecured debt cut to Baa1 from A2, outlook negative
  • Royal Bank of Scotland Group L-T senior debt cut to Baa1 from A3, outlook negative
  • Royal Bank of Scotland plc L-T deposit rating cut to A3 from A2, outlook negative
  • BNP Paribas L-T debt, deposit rating cut to A2 from Aa3, outlook stable
  • Credit Agricole L-T debt, deposit rating cut to A2 from Aa3, outlook negative
  • Royal Bank of Canada L-T deposit rating cut to Aa3 from Aa1, outlook stable
  • Societe Generale L-T debt, deposit cut to A2 from A1, outlook stable
  • UBS L-T debt, deposit cut to A2 from Aa3, outlook stable
  • Deutsche Bank AG L-T deposit rating cut to A2 from Aa3, outlook stable

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