June 22, 2012
Updated Jun 22, 2012 at 12:19 PM EDT
New York (Indiana’s NewsCenter) - All eyes are on Wall Street after Moody's credit rating agency downgraded some of the world's biggest banks.
The affected banks include America's top five, which are Bank of America, Citigroup, Goldman Sachs, JPMorgan Chase and Morgan Stanley.
Moody's believes their lasting prospects for profitability and growth are shrinking.
The downgrade means it will cost the banks more to borrow money and do business something that will directly affect the public, making it more difficult and more expensive to get loans on everything from cars to mortgages.
What are your thoughts CLICK HERE to leave us a "Your2Cents” comment.
Want to be in the know for the next weather event, the next school closing or the next big breaking news story?
TextCaster alerts from Indiana's NewsCenter are your defining source for instant information delivered right to your cell phone and email. It's free, easy and instant. Sign-Up Now!
Powered by Summit City Chevrolet
TextCaster alerts from Indiana's NewsCenter are your defining source for instant information delivered right to your cell phone and email. It's free, easy and instant. Sign-Up Now!
Powered by Summit City Chevrolet
© Copyright 2013 A Granite Broadcasting Station. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
Textcaster
Facebook
Twitter