I'm not sure whether anyone's posted this yet, I'm too busy working today to read XJO thread, however this is relevant:
Societe Generale, BNP Paribas may get downgraded by Moodys
http://www.bloomberg.com/news/2011-09-10/bnp-paribas-societe-generale-credit-agricole-said-to-face-cut-by-moody-s.html
Certainly not unexpected, but it will affect the markets.
Greece looks to be a goner to me (also not unexpected)
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