Moody’s Gives Banks the Hook

" Moody’s predicts a “hook-shaped” recovery path for banks, “characterized by an upward tilt that lies somewhere in between a U- and an L-shaped economic recovery, implying a painful journey. “ In a new report, Are Banks on the Road to Recovery?, Moody’s does not comment directly on the strong results reported by Goldman Sachs and JPMorgan Chase, but does note that the recovery will result in winners and losers."