Tweet me!The new financial reform bill, however, is intended "clearly to eliminate government—i.e. taxpayer-support to creditors," Moody's said. Some support, however, is likely to remain for large institutions as regulators work to implement new laws, it added.
"Over the next 12 to 24 months ... we expect that our support assumptions for systemically important banks will likely revert to pre-crisis, or even lower, levels—though we do not anticipate that we would completely eliminate support from these firms' senior debt and deposit ratings," Moody's said.
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Moody's also said it may downgrade subsidiaries of BB&T, Capital One, Fifth Third, KeyCorp, PNC, Popular, Regions Financial, SunTrust Banks, U.S. Bancorp and Zions Bancorp.
Take note that all of these banks were on the (or were too weak to even make it on the) original Doo Doo 32 list back in 2008 and the Doo Doo 32, Revisited about a year ago.. Several of these banks were also called out as potential shorts in about 60 days ago in The BoomBustBlog Pan-European Sovereign Debt Crisis Bankruptcy Search: a review the financial and bank holding companies whose economic and financial outlook do not support their current valuations.
Readers, remember Reggie Middleton on Suntrust’s Q3-09 Earnings?
Subscribers, see 
WFC Research Note Sep 2009 2009-09-30 13:01:30 281.29 Kb, ~ WFC Off Balance Sheet Exposure 2009-10-19 04:25:53 258.77 Kb ~ WFC Investment Note 22 May 09 – Retail 2009-05-27 01:55:50 554.15 Kb ~ WFC Investment Note 22 May 09 – Pro 2009-05-27 01:56:54 853.53 Kb ~ Wells Fargo ABS Inventory 2008-08-30 06:40:27 798.22 Kb to expound on our opinions of Wells Fargo, below.
bank_ficc_otc_exposure_wfc_and_c.pngbank_ficc_otc_exposure_wfc_and_c.png
Subscribers can also access several PNC and Sun Trust forensic reports in the bank section via the subscription contents link.
