Fitch downgrades two Euro banks, puts others on watchlist

A logo of the Swiss banking giant UBS is seen above its headquarters on October 15, 2011 in the center of Zurich.

This final note today, your every-now-and-then reminder that banks are still shaky, despite the billions in profits JPMorgan Chase reported this morning.

Right after the closing bell this afternoon, Fitch downgraded two big European banks and put a bunch of others on a watchlist. Royal Bank of Scotland and UBS were the downgrades. Those on notice include Barclays, Goldman Sachs and Morgan Stanley.

Which obliges me to ask the same question I asked a couple of weeks ago: If everybody's downgraded, is anybody downgraded?

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Kai Ryssdal is the host and senior editor of Marketplace, the most widely heard program on business and the economy in the country.


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