On Thursday, credit-rating agency Moody's downgraded 15 of the world's largest banks in a move that could cause further turmoil in markets already unnerved by the European debt crisis and the shaky U.S. economic recovery. Citigroup, Bank of America, and Morgan Stanley were among the American banks hit, and they are expected to have a tougher time securing loans as a result. The threat of a downgrade had plagued markets for months, pushing down stock prices of many major financial institutions.
THE WEEK'S AUDIOPHILE PODCASTS: LISTEN SMARTER
- The latent sexism of the male marriage proposal
- 43 TV shows to watch in 2014
- Bush vs. Clinton in 2016 is the perfect way to make millennials hate politics even more
- The real story behind Deliver Us From Evil
- This judge is the reason we're still fighting over net neutrality
- The hilarious hypocrisy of Republicans complaining about the imperial presidency
- After Ferguson: Stop deferring to the cops
- How to be the most productive person in your office — and still get home by 5:30 p.m.
- Diagnosing the Home Alone burglars' injuries: A professional weighs in
- The lessons of Japan's latest recession
Subscribe to the Week