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Jim Bohannon
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Jim Bohannon
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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.

 

 

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Traffic & Weather

  • Brookswood Blvd CLOSED >< Pinebrook and Lodgepole Dr. (5/14 - 9/4)
  • Bradbury Way closed through September 9th.
  • Lane Closure on Portland Avenue from College Way to 9th Street (9/1-3)
  • Southbound Lane closed on Boyd Acres Rd near Ross Road [South end] (8/27-31)
 
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