Standard & Poor's, has downgraded America's top-notch AAA

[henrysmedford]

Standard & Poor's, has downgraded America's top-notch AAA rating. http://www.bbc.co.uk/news/world-us-canada-14428930

Look out for Sunday!!!!!!!

[Thogey]

The S is Hing the F.

I have about 50,000 in G backed securities, 200K in RE. and 162K in debt? What do I do now?

I f-in stink!

[hobo finds]

How would the US punish the S&P for this? Move stocks to other areas?

[BamaJoe]

Shame they didn't do it yesterday as a birthday present to Obummer.

[henrysmedford]

The S is Hing the F.

I have about 50,000 in G backed securities, 200K in RE. and 162K in debt? What do I do now?

I f-in stink!

From--http://www.fdic.gov/news/news/press/2011/pr11133.html

Agencies Issue Guidance on Federal Debt

Earlier today, Standard & Poor’s rating agency lowered the long-term rating of the U.S. government and federal agencies from AAA to AA+. With regard to this action, the federal banking agencies are providing the following guidance to banks, savings associations, credit unions, and bank and savings and loan holding companies (collectively, banking organizations).

For risk-based capital purposes, the risk weights for Treasury securities and other securities issued or guaranteed by the U.S. government, government agencies, and government-sponsored entities will not change. The treatment of Treasury securities and other securities issued or guaranteed by the U.S. government, government agencies, and government-sponsored entities under other federal banking agency regulations, including, for example, the Federal Reserve Board’s Regulation W, will also be unaffected.

[beauanderos]

Most pension funds are mandated by their prospectus to only invest in AAA graded debt. So if this plays out, you can expect a MASSIVE divestment of bonds this coming week... and most likely insufficient buyers to prevent a Bond Market meltdown.