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NEW YORK (CNNMoney) -- Standard and Poor's only downgraded the credit rating of the United States on Friday. But the financial markets have picked up where S&P left off and essentially decided to downgrade much of Europe too.
It appears that one of the unintended consequences of S&P's decision to cut the U.S. to AA+ from AAA is that investors have begun to question why nations like France, the United Kingdom and, to a much lesser extent, even uber-strong Germany should still have perfect credit ratings.
But it is France that is really feeling the brunt of the market's doubts right now.
Originally posted by predator0187
Well, just another domino in this sequence of events.
The veils is being lifted throughout the world and it is becoming more and more obvious there is something wrong with our financial systems.
It's sad that it takes the whole house falling down for people to realize something's wrong.