Friday, August 05, 2011

AAA no more.

The folks at S&P straightened their collective spine and downgraded US debt, something that is probably long overdue.

This was released after market hours on a Friday evening, so there's no reality check from the markets.

So the question is, who bought the protection, and what did they know? And, who sold the protection, and who's gonna bail them out?

Can you hear America's enemies cheering?


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