Even if a U.S. debt downgrade might not be the end of the world - if Japan's track record is any...

|By:, SA News Editor

Even if a U.S. debt downgrade might not be the end of the world - if Japan's track record is any guide - certain sectors could suffer. Big banks (XLF -0.6%), whose credit ratings get a boost from the implied support of the U.S. government, could feel pain with a downgrade of their sugar daddy. Big banks are also massive holders of Treasury debt. BAC -1.2%, JPM -1%, C -0.7%.