CRAs are beholden to the organizations that pay them. The megabanks pay to have their debt rated, S&P rates it. The Mega banks didn't like this move, the S&P

CRAs are beholden to the organizations that pay them. The megabanks pay to have their debt rated, S&P rates it. The Mega banks didn't like this move, the S&P rates it. I said the uncertainty created by this move would obviously create a downgrade, but if you don't think there is pressure from the banks to downgrade them, you're nuts.