EVERYTHING IS GOING SWIMMINGLY: Fitch warns it may be forced to downgrade dozens of banks, including JPMorgan Chase. “The credit rating firms relied upon by bond investors have roiled markets lately with their actions. Last week, Moody’s downgraded 10 small and midsized banks and warned that cuts could come for another 17 lenders, including larger institutions like Truist and U.S. Bank. Earlier this month, Fitch downgraded the U.S. long-term credit rating because of political dysfunction and growing debt loads, a move that was derided by business leaders including JPMorgan CEO Jamie Dimon.”

Apparently Dimon doesn’t have much room to talk.