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View Diary: San Jose: Millions Withdrawn from Bank of America and Wells Fargo! (288 comments)

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  •  Weak and Weaker! (2+ / 0-)
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    Senor Unoball, Wife of Bath

    Remember when the S&P downgraded the US credit rating back in August? S&P is one of the major services that do this. Moody's is another. So is Fitch's.

    This MORNING Fitch's Rating service has downgraded Bank of America, put them on their "watch list- negative" for VIABILITY, meaning they have official, serious doubts about the viability of the Bank of America as a going concern.
    Bank of America Financial Downgrade

    The drivers for placing Bank of America Corporation's Viability Rating on Rating Watch Negative center on heightened uncertainties regarding capital market and economic conditions and implications for future performance. In addition, Fitch will also perform updated analysis on the company's litigation-related mortgage risks as well as the company's capital enhancement plans.

    (My bolding)

    Sooo...Bank of America is not quite in Intensive Care yet....but a cleaning crew is getting the room ready, techs are testing the monitoring equipment and the interns are standing by for a crash course in seeing the crash cart in action during a Code Blue coming up the elevator.

    Couldn't happen to a nicer bunch.....SNARK!


    "God has given wine to gladden the hearts of people." Psalm 104:15

    by WineRev on Fri Oct 14, 2011 at 07:45:58 AM PDT

    [ Parent ]

    •  Any other major banks in the same boat? (0+ / 0-)

      Sounds like diary material to me!

      "I mean, it -- I mean -- and I tell somebody, I said, just because you have a group of scientists that have stood up and said here is the fact, Galileo got outvoted for a spell." -- Rick Perry, 9/7/11

      by Senor Unoball on Fri Oct 14, 2011 at 07:54:39 AM PDT

      [ Parent ]

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