Moody’s downgrades 11 Brazilian banks ratings which could be exposed to a debt crisis

Thursday, June 28th 2012 - 21:39 UTC

Full article 4 comments

US rating agency Moody's had downgraded the ratings of 11 Brazilian banks by one to three notches, almost all of them to the level of Brazil's sovereign credit rating. Read full article

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reality check
Oh dear, seems that downgrading banks is not a phenonemon restricted to Europe. Know that is really going to fuck up some of our posters here!!!
Jun 28th, 2012 - 10:47 pm - Link - Report abuse 0
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ChrisR
But completely expected.

You cannot do what Dilma has insisted the banks do (provide loans to vitually anyone with a pulse) without the REAL RISK OF MASSIVE DEFAULT!

Brasil still does not have effective debt control laws for the banks to use when pursuing debtors who have defaulted.

Crazy, crazy situation.

Mr. Market will come back and bite them on this one big-time.
Jun 29th, 2012 - 03:07 pm - Link - Report abuse 0
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British_Kirchnerist
#2 Losing faith in Dilma Chris?
Jun 29th, 2012 - 04:05 pm - Link - Report abuse 0
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ChrisR
Blind_Scottie_Kirchnerist.

You have to put it at her door while she continues to listen to the hopeless Finance Minister. It is in her remit, and hers alone, to do something about him before everything goes sour.

He has proven he knows nothing of running an economy that is cooling. Any idiot can run things when they are basically running on automatic.

If you bothered to read my posts instead of just spouting inane drivel, you would already have known the answer.
Jun 29th, 2012 - 09:00 pm - Link - Report abuse 0
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