Moody’s on massive financial defaults

"You probably knew this already — but the chart’s still striking.

That’s the amount of bonds and loans which Moody’s-rated financial firms have defaulted on, during each of the last major crises. In the most recent one, 72 firms defaulted on $318bn worth of debt. 41 banks also defaulted on deposits (most of these were deposit freezes in the Ukraine). Unsurprisingly, 69 of the over 100 financial firms that defaulted in the 2008-2010 period were banks..."

at http://ftalphaville.ft.com/blog/2011/02/10/485346/moodys-on-massive-financial-defaults/