Moodys Downgrades RMBS across the boardMoodys downgrade across the board of residential mortgage-back securities will now impact previously AAA grtade bonds. The subprime problems will resonate into other problems. This will be a six month shake-out. CM flat despite its press release. Bigger worry isn't even direct losses, but lower profits going forward due to fall in this sector and the impact on the market in general (thus affecting overall capital markets revenues).