Saturday, August 6, 2011

U.S. Credit Downgraded: S&P Reduces Rating To AA+ [UPDATE]


"We may congratula­te ourselves that this cruel war is nearing its end. 
It has cost a vast amount of treasure and blood. . . . 
It has indeed been a trying hour for the Republic; but 
I see in the near future a crisis approachin­g that unnerves me and causes 
me to tremble for the safety of my country. As a result of the war, 
corporatio­ns have been enthroned and an era of corruption in high places 
will follow, and the money power of the country will endeavor to prolong 
its reign by working upon the prejudices of the people until all wealth 
is aggregated in a few hands and the Republic is destroyed. 
I feel at this moment more anxiety for the safety 
of my country than ever before, even in the midst of war. 
God grant that my suspicions may prove groundless­."



-- U.S. President Abraham Lincoln, Nov. 21, 1864 
(letter to Col. William F. Elkins)

Read the Article at HuffingtonPost

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