"S&P Downgrades 22 U.S. Banks": "Structural Transformation" developing? (radical, rating)

[delusianne]

Standard & Poor's downgraded 22 U.S. banks Wednesday, arguing more volatile financial markets and tighter regulations will create a tougher operating environment.

"We believe the industry is undergoing a structural transformation that may include radical changes with permanent repercussions," said Standard & Poor's credit analyst Roderigo Quintanilla in a press release.

S&P Downgrades 22 U.S. Banks | Banks | Financial Articles & Investing News | TheStreet.com

Structural transformation as opposed to cyclical? Good.

[boiseguy]

I'm in favor of these banks going away, and tough regulations where banks operate as non-profit, or having one central bank,
As it stands now, these banks are essentially skimming off the top of all economic activity in this country.. They are merely a middle-man cartel that provides money from the federal reserve to mainstreet... I say give instant non-profit access to money by the actual market place WITHOUT the banks taking their cut off the top first by way of interest rates and fees...

[delusianne]

NEW YORK (Reuters) - The benchmark S&P 500 index .SPX should surge back to its October 2007 record above 1,500 by the end of 2012, provided the U.S. economy sees a V-shaped recovery, JPMorgan Chase Chief U.S. Equity Strategist Thomas Lee said on Wednesday.

"The global economy is in the midst of a synchronized recovery," Lee said at the Reuters Investment Outlook Summit. "If we end up with a V-shaped recovery, we could go back to our record high of 1,500 in 2011-2012," he added, referring to the S&P 500.

JPMorgan's Lee sees S&P 500 retest of '07 record | Reuters