Finance

Fitch warns it might downgrade Standard & Poor’s 

A little satire for the weekend: Fitch Ratings today said it might lower its ‘AAA’ rating on Standard & Poor’s, as the financial ratings business continues to reel from a complete lack of anything to actually rate in residential mortgage-backed securities. Fitch said that S&P would likely face a three-notch downgrade unless the agency could somehow drum up some RMBS or CDO business in the next few weeks.