Archive for November 21st, 2011

Larry's Blog

Super Committee’s Failure Blamed for Falling Stock Prices Today

November 21, 2011

No deal was struck by the Super Committee on deficit reduction, as Republicans wouldn’t budge on their refusal to lift taxes and Democrats dug in their heels against gutting entitlement spending.  Equity prices fell in response as they had during the summer deficit battles that resulted in S&P’s downgrading of America’s credit rating to AA+.  […] More

New Overnight Developments Abroad - Daily Update

Debt Concerns Intensify

November 21, 2011

Investors began this week is a risk-off mood, fanned by An expected admission from the U.S. congressional super-committee of failure to strike a budget cutting deal, which will trigger automatic across-the-board reductions and a possible additional U.S. credit rating downgrade. A warning from NYU Professor Roubini that an Italian debt restructuring will be unavoidable. The […] More