August 8, 2011

Corporate, junk bonds weaken after U.S. downgrade - MarketWatch

This simple quote captures the real problem with Congress and the Administration (story by Deborah Levine; quote from Ken Jacques, credit and derivatives manager at Informa Global Markets ...whatever expertise he may have.)

"The problem is that S&P's downgrade isn't about the 'lack of faith in the ability of the US to pay its debts, but with the lack of faith in the leadership of this country and where that may lead us,' Jaques wrote in a note. 'And where that will lead us is into another recession.'"

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