Fitch is warning that they may downgrade many large US banks including biggest ones like JP Morgan Chase and Bank of America.
NEW – Fitch Warns It May Be Forced to Downgrade Dozens of Banks Including JPMorgan Chase & Bank of America
"That would potentially set off a cascade of examinations of the entire universe of banks covered by Fitch" pic.twitter.com/F4AfazNAeT
— Chief Nerd (@TheChiefNerd) August 15, 2023
The banking system is a disaster and it is collapsing. These ratings firms are corrupt entities to begin with so the fact that they are being forced to do downgrades should tell you how bad everything is.
The crazy thing is that most people have no understanding of how bad the banking system and the economy is. Lots of people are going to be in for a very rude awakening.
