There is a reason why I am watching the banks so carefully.  The banks are the beating heart of our economic system, and so if they get into big trouble we will all feel the pain.  That is precisely what happened in 2008, and that is precisely what is happening again right now.  In recent months there have been endless banking “glitches”, banks have been shutting down hundreds of branches and laying off thousands of workers, and lenders are getting really tight with their money because they are sitting on hundreds of billions of dollars of unrealized losses.  And just in time for Thanksgiving, three of our “too big to fail” banks have had their ratings downgraded by Moody’s Investors Service…

Moody’s Investors Service cut its rating outlook to negative from stable on Bank of America Corp., JPMorgan Chase & Co. and Wells Fargo & Co., but the stocks rallied Tuesday on the heels of tame inflation data.

The big news networks really haven’t talked much about this.

Why is that?

To me, this is a really big deal.

When push comes to shove, the “too big to fail” banks will be looking to the federal government to bail them out, but the financial position of the federal government just continues to get weaker and weaker…

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