Staff
Moody’s may cut the credit ratings of major U.S. bank holding companies, including JPMorgan Chase & Co. and Goldman Sachs Group Inc., reports Reuters.
The agency’s reasoning is there’s less chance the government will fully bail out bond investors if the companies run into financial distress.
Read: S&P downgrades Berkshire Hathaway
“The announcement shows that regulators are making progress toward convincing financial markets that big banks may not be too big to fail,” says Reuters.