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reporter: just the mention of the word is enough to make markets shaky since the down depraid of the s&p on the credit rating and the dow lost will you points on thursday and friday and feel four percent. one of the catalyst was investment banker morgan-stanly. they warned that the united states had a 30 percent chance was falling in recession . on thursday they got out of riskier things like stocks and went in to safe places like gold and u.s. treasuris and then bill gross atimco yesterday, he said that fact that they flocked to treasuries means another recession and the united states is running out of options not what ben bernanke want to hear right now. this next week fed officials ....
Capacity to meet commitments. what does the downgrade mean for the american people. steve moore. i have to say that the number one worry on people s mind, how will we feel the down depraid? it is a black eye for america s position in the global economy. you mentioned countries that are in our country as double a. this does not mean that america is a double a country. we are still triple a. who cares what s&p rates us. they don t have the greatest record for rating companies or debt. they gave triple a bond ratings to the subprime bond mortgages a week before the crash. the whole episode is not just the last couple of weeks but last five years when we have almost doubled the national ....