Moody’s Downgrades Big International Banks
June 22, 2012 • 3:14PM

A Moody’s analyst and an international banker are sitting in a theater, in which a fire is raging. “It’s getting a tad warm in here,” observes the Moody’s man. “Stop being such an alarmist!” responds the banker. Or, a Moody’s man and an international banker are walking through a morgue, examining the corpses. “I think we should downgrade this one from ‘sniffles’ to ‘mild cold’,” the Moody’s man says. “That’s preposterous!” thunders the banker. “They are all just fine!”