Simon Black: Another Day, Another Downgrade for America

Another day, another downgrade for America. Today it’s the banking sector Simon Black – August 8, 2023 Another day, another downgrade for America. Today it’s Moody’s Investor Service, one of the three major credit rating agencies alongside Fitch and S&P. Last week Fitch downgraded the sovereign debt rating for the United States of America. And late yesterday, Moody’s downgraded the ratings of several US banks. The implication? The seismic activity that we saw in the banking sector back in March isn’t over. This is no surprise for our readers– we’ve talked about the ongoing risks in US banks several times…