Thursday, May 21, 2009

S&P Downgrade Sinks U.K. Pound

May 21, 2009

IS THIS WHERE THE U.S. IS HEADING? S&P Downgrade Sinks U.K. Pound. “Buyers of the pound faced an unexpected reversal of fortunes Thursday, after ratings agency Standard & Poor’s Corp. downgraded its credit-rating outlook for the U.K. to “negative” from ’stable.’” Upside for Britain — other countries are likely to be downgraded, too. We’ll all fall together, which means none of us will be falling at all! Er, kind of.

Posted via email from Garth's posterous

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