Son of a gun! I just happen to have that edition right here!
Wall Street Weekend 6/9/2012---------- Forgive me if I don't print the whole thing but here's my idea of the important parts:
"The impending downgrades are adding to the unease already plaguing banks, investors and borrowers." ....con't......
"The $2.6 Trillion money-market-fund industry {my comment: The American retirement future} is likely to be particularly effected. Those funds are restricted by law in what they can buy, and typically must have the bulk of their holdings in the most highly rated Prime-1 by Moody's."
------------------------------------------- This is all about integrity. Trust. The one thing nobody talks about when they talk about Capitalism: It's the ability to expect payment for any transaction. The banks have always been the middle man; the transfer agent of capital between two parties in a free market. The banks have always been the loan agents by securing equity and lending against the value of that same equity.
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