S&P Cuts New Century's Rating to "Default"

S&P Cuts New Century's Rating to "Default"
EconomicPolicyMonitor.com ^

Posted on 03/12/2007 6:46:14 PM PDT by bellforcer

New Century's...inability to meet the notes that are immediately payable is tantamount to a general default, S&P said...

(Excerpt) Read more at economicpolicymonitor.com ...

TOPICS: Business/Economy; News/Current Events
KEYWORDS: housingbubble; newcentury

1 posted on 03/12/2007 6:46:15 PM PDT by bellforcer

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To: bellforcer

this week will be a tough day on the street

2 posted on 03/12/2007 6:54:44 PM PDT by spanalot

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To: bellforcer

Yeah, but Americans are the wealthiest people on the planet - Getting Richer (American Household Wealth Soars)

Just pretend it's happening to you, too.

3 posted on 03/12/2007 7:12:34 PM PDT by raybbr (You think it's bad now - wait till the anchor babies start to vote.)

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To: raybbr

yeah!!!...the emperor has no clothes!..but as long as the rest of the world sees us with clothes...we're home free!!!

4 posted on 03/12/2007 7:25:23 PM PDT by M-cubed (Why is "Greshams Law" a law?)

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