Dealbook Says Bank Crash

The Dealbook, a NY Times blog by Andrew Ross Sorkin, admits that the bank crash continues.  Now you have the Moody's downgrade of 15 mega-banks.  Do you get the message, LaRouchepac is right and we need Glass-steagall Act now.

Big Banks Brace for Credit Rating Downgrades Moody's Investors Service has begun notifying some big banks that their credit ratings may be cut as early as this afternoon.

The long-awaited announcement would end months of anticipation about the ratings cuts, after Moody's said in February that it would assess the credit of 17 global financial companies for potential downgrades.

Shares in the nation's biggest banks began falling more sharply in early afternoon trading on Thursday, as investors anticipated the potential downgrades.