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General News 7/5/2012 at 3:19 PM EDT H3'ed 7/5/12

Moody's, S&P take steps to downgrade Barclays

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Two leading credit rating agencies took steps on Thursday toward downgrading Barclays in the wake of a trading scandal that's seen three senior Barclays executives, including CEO Bob Diamond, hand in their resignations. The British government has said it intends to pass legislation to insulate retail banking from the riskier activities of investment banking, a structural change that Barclays has strongly opposed.

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Sheila Samples is an Oklahoma writer and a former civilian US Army Public Information Officer. She is a Managing Editor for OpEd News, and a regular contributor for a variety of Internet sites.

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