Sunday, March 4, 2007

When You're Too Big To Fail

This is a fascinating story - Click here to read about Moody's upgrading the debt ratings of JP Morgan, Bank of New York and State Street. The ratings agency says these banks are too big and that the government will back them if they face default.

It's all well and good that the government would bail them out if need be, but one wonders when the need might arise. The timing seems just a trifle odd.

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