by Michael Maharrey, Schiff Gold:

The financial crisis precipitated by rising interest rates continues to bubble under the surface.

Earlier this month, Moody’s cut the credit rating of 10 small and midsize banks. It also placed six large banks on review for potential downgrades and revised 11 more banks from a stable outlook to a negative outlook.

This week, S&P Global followed Moody’s lead and downgraded the credit ratings of five banks. It also lowered the outlook for several others