|It's all a game really!|
So Moody's has downgraded the credit rating of 12 UK financial firms including Lloyds TSB, RBS, Nationwide and Santander UK. The agency said it now believed the UK government was less likely to support some firms if they got into trouble. However, the firm emphasised that the downgrades did not "reflect a deterioration in the financial strength of the banking system".
The system is strong but the government is weak, is that it? If the banking system is so strong how come these banks might get into trouble? All that Moody's is telling the world is that they reckon taxpayers might get the hump if another bailout is required. And you need Moody's to tell you that?
Shysters - one and all!