Moody's Downgrades 4 Major Banks; GAO Study Finds Big Bank Bene...

Receiving Wide Coverage ...

Downgraded: Moody's downgraded four major U.S. banks — JPMorgan Chase, Morgan Stanley, Goldman Sachs and Bank of New York Mellon — Thursday, after the rating agency concluded that the government has become less likely to bail out big firms. "The lower credit ratings could raise the cost of capital for the banks, many of which were already downgraded by Moody's following another major review undertaken last year," the FT reports. Wall Street...