Sadistic rating agencies are tormenting Iceland’s banks

Like Tantalus, forever reaching out for fruit which seems to be achingly close, but never quite within reach, the Icelandic banks, Glitnir, Kaupthing and Landsbanki, have been driven to distraction by the rating agencies. Each time the agencies ask for something, they do it — only to be told that now they must jump through a new hoop.