Moody’s downgrade of 15 banks a sign of a new recession

Late last night, Moody’s hammered 15 of the world’s largest banks with ratings downgrades, including US firms like JP Morgan Chase, Citibank, and Bank of America. The best one can say about it is that it could have been worse, as the downgrades everyone knew were coming ended up being milder than some had predicted:                 More Reading