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Fudge

More Bearish Than Me

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Today I was talking to someone who was actually more bearish than I was.

The subject got onto housing and they were saying that housing was balancing on a knife edge and was just about

to fall off a cliff. I know it doesn't sound like much but its the first time I have struck up a casual conversation with someone

and they were more bearish than me.

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Today I was talking to someone who was actually more bearish than I was.

The subject got onto housing and they were saying that housing was balancing on a knife edge and was just about

to fall off a cliff. I know it doesn't sound like much but its the first time I have struck up a casual conversation with someone

and they were more bearish than me.

Maybe they're a closet HPC'er

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Today I was talking to someone who was actually more bearish than I was.

The subject got onto housing and they were saying that housing was balancing on a knife edge and was just about

to fall off a cliff. I know it doesn't sound like much but its the first time I have struck up a casual conversation with someone

and they were more bearish than me.

I'll talk to anyone. ;)

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As a result, Moody’s may need to adjust the ratings of individual institutions that perform worse than under its base-case scenario. The rating agency adds that consolidation, particularly in the building society sector, could drive further rating changes.

“Moody’s is already taking a conservative view on future developments in the economy,†says Ms. Rudman. “However, in the event of the downturn becoming significantly worse than its base-case scenario (which incorporates a 40% peak-to-trough house price fall, 60% peak-to-trough commercial property price fall and GDP contraction of 3%-4% in 2009), Moody’s could implement further downgrades of the BFSRs and possibly also the senior debt ratings of some institutions,†Ms. Rudman cautions.

http://ftalphaville.ft.com/blog/2009/09/14...s-for-uk-banks/

London, 14 September 2009 — The fundamental credit outlook for the UK banking system remains negative

Edited by Three Pint Princess 2

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