Fifteen of the world's largest banks have been rocked by credit score downgrades, with rating agency Moody's delivering on what it had long promised to do. Those hit include Goldman Sachs, Morgan Stanley, Bank of America, Bank of Scotland and Deutsche Bank - financial powerhouses domestically and internationally. The move could make it harder for them to keep existing clients, or attract new ones and their money. It's also feared the downgrades could trigger fresh market panic, and a new exodus to gold. For more on the possible repercussions, RT talks to Charlie McGrath, economic blogger and founder of the website 'Wide Awake News'.
Subscribe to RT! http://www.youtube.com/subscription_center?add_user=RussiaToday
Watch RT LIVE on our website http://rt.com/on-air
Like us on Facebook http://www.facebook.com/RTnews
Follow us on Twitter http://twitter.com/RT_com
Follow us on Google+ http://plus.google.com/b/102728491539958529040
RT (Russia Today) is a global news network broadcasting from Moscow and Washington studios. RT is the first news channel to break the 500 million YouTube views benchmark.