Stephen Wood, Chief Market Strategist Russell Investments: The New York Times reports the Justice Department is investigating whether the Standard & Poor’s credit ratings agency improperly rated mortgage securities ahead of the financial meltdown. A strategist says this has been a long-standing issue.
Global economy may be a bigger factor than the downgrade by Standard & Poor’s
Namely … whether or not there is a recession in the United States, whether or not there is a recession in China and Asia,
and whether or not the European debt crisis is going to come over to the United States.
