Wednesday, July 13, 2011

Actual people in charge send warning to psychotic Republicans

Ratings agency Moody's has warned it may cut the US AAA debt rating because it is increasingly likely its debt ceiling will not be raised in time to avoid a default.

It has placed the US on a downgrade watch, saying the likelihood of a default was "low" but not "de minimis".

Federal Reserve head Ben Bernanke said earlier a default would send shockwaves through the entire financial system.


Read more here.

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