Moody's Downgrades 15 Major Banks

6:11 AM ET Fri, 22 June 2012

"The real issues with the banks is the ten-year yield curve at 1.633 percent, how do they make money with that yield curve so flat?" asks Paul Miller, FBR Capital Markets managing director, explaining the ratings cuts for Morgan Stanley, JPMorgan, Goldman Sachs, Citigroup, and Bank of America.