Potkettleblack much?

J.P. Morgan Chase and Bank of America were downgraded to hold from buy, and Wachovia was cut to sell from hold at Merrill Lynch. J.P. Morgan is one of the largest U.S. consumer lenders and will be hard-pressed to avoid a consumer recession, Bank of America will be hurt by higher-than-expected credit losses and Wachovia will see a significant rise in net credit losses.