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S&P Threatens To Downgrade Everything,,,,,,,,LOL That should cover things LOL

By: capt_nemo in WRGO | Recommend this post (0)
Mon, 18 Jul 11 6:06 PM | 18 view(s)
Boardmark this board | Reality news,,,,,,,, 		Msg. 00654 of 18626
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Media coverage of S&P downgrade threat;

• Reuters – S&P threatens downgrade of U.S. financial companies

Standard & Poor’s on Friday raised the pressure on debt negotiators in Washington, saying it could downgrade insurers, securities clearinghouses, mortgage agencies and a laundry list of other firms without a deal soon to lift the debt ceiling and cut the deficit. While S&P had already made clear it could downgrade the United States’ sovereign credit rating, the Friday move struck directly at the heart of the financial system, raising the prospect of knock-on effects should the country exhaust its ability to borrow to pay bills. The Treasury took the last available step Friday to try and extend that borrowing capacity. S&P on Friday put on review for possible downgrades a range of powerful financial firms — many of them little known to the public but crucial to the country’s financial infrastructure. U.S. government securities are central to the operations of most of the companies cited. They include the Depository Trust Co, which facilitates payment transfers among major banks, as well as several Federal Home Loan Banks and Farm Credit System Banks. They also singled out Fannie Mae and Freddie Mac, the two government-sponsore

http://www.ritholtz.com/blog/2011/07/sp-threatens-to-downgrade-everything/?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+TheBigPicture+%28The+Big+Picture%29




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Realist - Everybody in America is soft, and hates conflict. The cure for this, both in politics and social life, is the same -- hardihood. Give them raw truth.




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