Moody’s Places U.S. On Review For Downgrade As Debt Talks Stall -- Bloomberg
Moody’s Investors Service put the U.S. under review for a credit rating downgrade as talks to raise the government’s $14.3 trillion debt limit stall, adding to concern that political gridlock will lead to a default.
The Aaa ratings of financial institutions directly linked to the U.S. government, including Fannie Mae, Freddie Mac, the Federal Home Loan Banks, and the Federal Farm Credit Banks, were also put on review for cuts, Moody’s said in a statement today.
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My Comment: S&P has also made the same warning. The debt clock is here. Just for everyone`s info .... if this downgrade proceeds, it will be the first time since 1917.
Update: The cost of this review is now being felt.
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