S&P takes scissors to ratings of eight US banks

JP Morgan, Bank of America and Citi among eight banks downgraded

Comment by: Anonymous. Posted 8 years ago [2015-12-04 23:54:58]

Is it just me, or do ratings of banks not matter any more? Perhaps the answer is "yes, because more derivative trades are centrally cleared now and the CCPs don't exact a punishment in collateral terms for rating downgrades."