From Zero Hedge:
Here we go - the rating agencies are now officially in the game. Next up - collateral calls and other nasty stuff:
"Today, Fitch Ratings issued a number of separate press releases placing on Rating Watch Negative most U.S. bank and bank holding companies' Support Ratings, Support Floors and other ratings that are sovereign-support dependent.
The two companies mostly impacted by this announcement are...
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More on banks:
Top analyst Whitney: Massive financial layoffs are coming
JP Morgan: Foreclosure crisis could cost the banks $120 billion
This could be the worst quarter for the big banks since the financial crisis