Financial News, Politics, and other Skullduggery

Financial News, Politics, And Other Skulduggery

Friday, May 18, 2012

Capitalism on the brink: Moody's downgrades 16 Spanish banks


NEW YORK | Fri May 18, 2012 4:40am EDT

(Reuters) - Moody's Investor Service carried out a sweeping downgrade of 16 Spanish banks on Thursday, including Banco Santander, the euro zone's largest bank, citing a weak economy and the government's reduced ability to support troubled lenders.

http://www.reuters.com/article/2012/05/18/us-moodys-spain-banks-idUSBRE84G1GC20120518

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