Justice Department’s Standard & Poor’s Probe: Recession Might Be More Important Reason for the Volatile Stock Market

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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.

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