Moody's Downgrades Banks

Moody's downgraded numerous large banks citing exposure to violent swings in the global financial markets. The banks were grouped into three categories. The safest banks have large consumer deposits, lending and credit card business. The second group relies heavily on investment income, and the riskiest group has problems in risk management. In a nod to the efficient markets hypothesis, many banks stock rose after the announcement, an indication that the downgrades had been expected by the stock market. http://www.garp.org/risk-news-and-resources/risk-headlines/story.aspx?newsid=48640