What does the downgrade of credit for several of the nation's biggest banks mean to your wallet?

Years after the bank bailouts that amounted to trillions of taxpayer dollars, Moody's Investors Service has now downgraded the credit ratings of JP Morgan Chase, Bank of America and Citibank.

A little late, no?

For you, these downgrades in the short term mean nothing. There will be no difference in your checking account, savings account, credit card, or car or home loan. But taking the long view, the banks still rest on our shoulders as taxpayers and that's unconscionable. That means the 'Too Big To Fail' banks can be as dumb as they want to be and we'll get stuck with the bill. That's got to be changed.

I felt sick watching testimony in the Senate when all the sniveling politicians were kissing up to chief executive Jamie Dimonover Chase blowing $5 billion. We've got a problem, Houston. It's a corrupt D.C. culture that takes care of the privileged at the expense of the rest of us.

What can you do? Vote with your feet. Take your money out of the big banks and move it to small community banks or credit unions.