El-Erian: U.S. May Lose AAA Rating Despite Reaching a Debt Ceiling Solution CRONKITE Mon Jul 25, 2011 11:47am EST 2 Comments “In most likelihood, a last-minute political compromise will avoid a default but will leave the AAA rating extremely vulnerable,” El-Erian, the Newport Beach, California-based chief executive officer and co-chief investment officer at Pimco, wrote in an e-mail. “Stock markets around the globe will look to price in a greater uncertainty premium on account of political squabbles in the world’s largest economy and the increasing risk that it may lose its sacred AAA rating.” Full article If you enjoy the content at iBankCoin, please follow us on Twitter 2011-07-25 CRONKITE Share Facebook Twitter LinkedIn
So, the really smart people managing billions won’t be tricked by the really dumb people who run the country? SHOCKING!!! lol
Sorry I realize I should have written “the really dumb people they get elected to run the country”