Former Federal Reserve Chairman Alan Greenspan said he expects stocks to continue their decline after Standard & Poor's downgraded the nation’s credit rating, even as an S&P official predicted little market impact.
“Considering the momentum in which the market went down over the last week, it is very unlikely, if history is any guide, that this isn’t going to take a while to bottom out,” Greenspan said on NBC’s “Meet the Press” program. “So the initial reaction in my judgment is going to be negative.” http://www.bloomberg.com/news/2011-08-07/greenspan-says-markets-to-take-a-while-to-bottom-out-u-s-bonds-safe-.html '+'
