"Stocks Downgrade Congress to Useless, Move Forward Without Them" ha ha ha!

[NRaleighLiberal]

http://finance.yahoo.com/blogs/breakout/stocks-downgrade-congress-useless-move-forward-without-them-155755311.html

"Senate leaders say they have reached a bipartisan deal that will raise the debt ceiling and re-open the government. While this yet-to-be divulged agreement will keep the country from defaulting, it's too late to undo some of the impacts already being felt.

Reports out of China, the single-largest foreign creditor to the U.S., are depicting America as a beggar that is broke and being run by bumbling incompetents. The ratings agency Fitch, unable to hold off any longer, has officially put the country's AAA-rating on watch for a downgrade by reducing its outlook on U.S. debt to negative from stable.

For veteran market-watcher Jack Ablin, CIO at BMO Private Bank, it's clear the U.S. has already suffered some "credibility damage" and yet he's still confident an outright default will be avoided.

"I think investors still believe something will get done, and will get done before we default on any of our obligations," Ablin says in the attached video, where he calls the Fitch move unsurprising and unlikely to gum up the interbank lending and liquidity dealings that are built upon the surety of AAA-rated Treasuries.
_______snip________

not all that great a read...but a pretty good headline! Would rather it have been "Stocks downgrade Republicans to Useless"!

[wandy]

1. If the DNC were smart they would get an exact total of the damage......

done by this GOP attempted coup and make that damage known in every possible way.
Make the party of 'responsibility', responsible for the damage they have done.

Their is a price to this folly and it is not just one of word standing.
Their is a real monetary cost and that cost should be hung fully on the GOP's neck.

End the republican menace.

[jsr]

2. +1