Joe learns that Virginia City's banker, Harrison, is instigating a fake panic on the bank so he can foreclose on a mining operation and make some quick money. To thwart his plan, Joe and Hoss "rob" the bank to keep the depositors from getting the shaft. Having not thought the plan all the way through, the two Cartwrights find themselves wanted men.
MOODY’S DOWNGRADES GLOBAL BANKS By Eric Platt | Jun. 21, 2012, 5:30 PM
Ratings agency Moody’s downgraded the long-term credit ratings of 15 major U.S., Canadian, and European banks today after markets in New York closed.
Of the 15 firms downgraded this afternoon, none were hit more than Moody’s originally said was possible when it placed them on review in February.
The action will likely force many of the banks targeted post additional collateral against trades held on their books.
Below, a summary of the major ratings action taken.
Cut One Notch:
• HSBC downgraded to Aa3 from Aa2
• Lloyds TSB downgraded to A2 from A1
• RBS downgraded to Baa1 from A3
• Societe Generale downgraded to A2 from A1
Cut Two Notches:
• Bank of America downgraded to Baa2 from Baa1
• BNP Paribas downgraded to A2 from Aa3
• Barclays downgraded to A3 from A1
• Citigroup downgraded to Baa2 from A3
• Credit Agricole downgraded to to A2 from Aa3
• Goldman Sachs downgraded to A3 from A1
• JP Morgan Chase downgraded to A2 from Aa3
• Morgan Stanley downgraded to Baa1 from A2
• RBC downgraded to Aa3 from Aa1
• UBS downgraded to A2 from Aa3
Cut Three Notches:
• Credit Suisse downgraded to (P)A2 from (P)Aa2
In February, Moody’s also placed Nomura and Macquarie credit ratings on watch for downgrade. However, the agency took action before today, lowering Nomura and Macquarie by one level each, to Baa3 and A2, respectively.
Perhaps the best news of the downgrade came to Morgan Stanley, which was on review for a downgrade by as much as three levels. Shares in the bank are up more than three percent in after-hours trade.
Analysts estimated that the company could be forced to post more than $5 billion in collateral if it was hit by a downgrade to Baa2.
In a short statement after Moody’s announced its cuts, Morgan said it had made clear progress, particularly with its Mitsubishi UFJ partnership.
"We believe the ratings still do not fully reflect the key strategic actions we have taken in recent years," the company said.