Obama Downgraded to" Junk"..........by Dan Friedman

Following on the heels of Standard & Poors, the rating agency that made history by taking American treasuries down a peg to AA+, I am announcing another dubious financial first: President Obama has been downgraded to CCC, or what is commonly known on the Street as “junk.” Whether this will further roil the markets, or sink Obama’s chances in the next election remains to be seen. But looking out over the landscape – both foreign and domestic – Obama’s downgrade seems inevitable. The first 2 1/2 years of Obama’s term in office closely resemble a tornado destroying everything in its path and turning anything it touches into garbage.


Dan Friedman
NYC