Monday, August 8, 2011

Fannie Mae/ Freddie Mac DOWNGRADED to AA+ by S&P

And there it is.
S&P downgrades Fannie Mae and Freddie Mac from AAA to AA+.

We've been warning readers that Fannie and Freddie would be downgraded today by S&P.
Things are really starting to get interesting here folks.
Now we're just waiting for the Bank of America/ JP Morgue, Goldman Sachs, AIG downgrades.

CNN reports:
Credit rating agency Standard and Poor's on Monday downgraded the debt of mortgage finance giants Fannie Mae and Freddie Mac.
The downgrades to AA+ are part of the continued fallout from the agency's decision to drop U.S. sovereign debt to AA+, an unprecedented move that rattled investors and sparked concern over the long-term impact of the action.
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