Funny how Paul Giamatti's career arc has spanned Pig Vomit, Miles, Harvey Pekar and Ben Bernanke. All slightly mad.
— David Shvartsman (@FinanceTrends) June 9, 2011
S&P cut Nasdaq's credit rating to junk status citing debt burdens and its questionable strategy to buy a controlling interest in the London Stock Exchange. Financial Times reported that the exchange's counterparty credit & bank loan rating were lowered fromm BBB- (lowest investment grade rating) to BB+. The change will increase Nasdaq's borrowing costs should it wish to pursue aquisition targets. For an earlier look at the exchange consolidation trend that brought about Nasdaq's push for a stake in the LSE, please see "Exchange fever" .