Explaining the impact of a negative U.S. credit rating
On Monday Standard & Poor's came down hard on the long-term credit outlook of the U.S. S&P rates the ability of companies and governments to repay their debt — and the higher the rating, the lower the interest they have to pay on any borrowed funds.
What amounted to a warning from S&P was heard loud and clear on trading floors around the country. To find out what this could mean, Eight Forty-Eight spoke to Andrew Busch, a CNBC contributor and a global currency and public policy strategist for BMO Capital Markets.
Music Button: Dirty Vegas, "Changes", from the CD Electric Love, (Om Records)