George Noorey  
ON AIR NOW
George Noorey
12:00am - 5:00am
Coast to Coast
Contact Me
 
Infinite Menus, Copyright 2006, OpenCube Inc. All Rights Reserved.

Local News

Financial Expert Says We Deserve the Downgrading


A Bend financial advisor says we deserve the downgrade from Standard and Poor’s (S&P). Today Standard & Poor's Ratings Services also downgraded the credit ratings of Fannie Mae and Freddie Mac and other agencies linked to long-term U.S. debt. All the downgrades were from AAA to AA+, reflecting the same downgrade S&P made of long-term U.S. government debt on Friday. Financial advisor Bill Valentine applauds the downgrade, saying our elected leaders from both parties have failed us: “The agency also lowered the ratings for farm lenders; long-term U.S. government-backed debt issued by 32 banks and credit unions; and three major clearinghouses, which are used to execute trades of stocks, bonds and options.” For the man on the street, Valentine says in the short term investments are taking a hit, but says he believes this is a panic sell-off and not a Bear market.

 

 

Share

LinkedUpRadio Envisionwise Web Services