By Bruce Krasting (Guest Post)
What to make of the move by S&P? I will tell you that I was surprised that it happened this weekend. I expected that S&P would have given the US to November to sort things out. From the news reports it appears that the White House and Treasury were equally unprepared for this to happen now. Some thoughts: Market Reaction It is quite likely that we will see some interesting market action come Sunday night as this news is digested. But I will stick my neck out and say that once the dust settles a bit the ratings drop is not going to have a significant…
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