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Societe Generale downgraded by Goldman Sachs

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posted on Oct, 5 2011 @ 01:59 AM

LONDON (MarketWatch) -- Goldman Sachs on Wednesday downgraded Societe Generale SA to neutral from buy, saying risks for French banks have risen due to their large balance sheets, high wholesale liquidity needs and reduced prospects for bulking up their capital levels.

Another downgrade by Goldman in Europe recently. They just came out the other day forecasting a new recession in the Eurozone. I doubt this will go over well with the markets in the coming days.

From earlier today -

LONDON (MarketWatch) — European stocks posted sharp losses Tuesday as a delayed aid payment to Greece and fears of more write-downs hit banks, with Dexia SA slumping on reports of an imminent split.

Dexia (also a euro bank, French-Belgian) is slumping on fears of being split up. Which bank will be next to take a hit in Europe? All?

posted on Oct, 5 2011 @ 02:33 AM
Now look at the schitzophrenic market behavior with European markets surging on 'banks' of all reasons.

posted on Oct, 5 2011 @ 02:36 AM
reply to post by buni11687

im sick of hearing about this stuff
the media talks about the economy like its an unpredictible natural disaster. when many know exactly where its heading and whos pushing it in that direction
goldman sachs needs their corporate head cut off, along with every other bank and oversized corporation.
how much more are we going to take?
these people dictate our lives and let millions live in poverty so they can have privalage.

i wish goldman 'ballsachs' would 'predict' whats going to happen to everyone because im sick of hearing about financial news a day or week before it happens
reality is they know everything that happens many years before it does

edit on 5-10-2011 by UniverSoul because: (no reason given)


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