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S&P begins downgrading credit ratings linked to US, Fannie Mae + Freddie Mac

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posted on Aug, 8 2011 @ 10:02 AM
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It looks like the downgrade was contagious...it is spreading quickly.


WASHINGTON — Officials at Standard & Poor’s are downgrading the credit ratings of Fannie Mae and Freddie Mac and other agencies linked to long-term U.S. debt.

The agency says it has also lowered the ratings for: farm lenders; long-term U.S. government-backed debt issued by 32 banks and credit unions; and three major clearinghouses, which are used to execute trades of stocks, bonds and options.

All the downgrades were from AAA to AA+. S&P says the agencies and banks all have debt that is exposed to economic volatility and a further downgrade of long-term U.S. debt.

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posted on Aug, 8 2011 @ 10:12 AM
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Honestly they should have been downgraded years ago.

2nd



posted on Aug, 8 2011 @ 10:13 AM
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reply to post by Kingbreaker
 


PANTHEON



posted on Aug, 8 2011 @ 10:46 AM
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reply to post by mishigas
 


Even the E trade baby lost everything!




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