Don't Ask To Speak With Brian Moynihan Today

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He may be in a mood.

For a long, long time now, investors have been waiting for the day when credit-rating agencies cut their ratings on the big banks due to the possibility that they might get less support from the US government. That day has come. Moody’s has downgraded Bank of America’s long-term credit rating two notches to “Baa1″ from “A2″ and its short-term rating to P-2 from P-1...this is not an unexpected development. Still, it’s not welcome. The stock is down about 3% at last check to $6.69.

[WSJ]

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