It may be the starting indicator of another looming global financial crisis. The global rating agency,Moody’s has indicated that it may downgrade further debt sold by Goldman Sachs, Citigroup and JP Morgan Chase as the assumptions used to evaluate these debt issues stand altered.
The downgrade would mean increase in cost of borrowing for these US banking majors henceforth. Also this is seen as an early indication of an impending liquidity tightening in the developed world.