S&P Threatens Downgrades of Finance Companies; ‘AAA’ Rated Insurers
The S&P action takes in Fannie Mae, Freddie Mac, all “AAA” rated insurers, clearinghouses, fixed-income and exchange-traded funds and hedge funds, some Federal Home Loan Banks and Farm Credit System Banks, among others.
(Reporting by Ben Berkowitz; Editing by James Dalgleish)
IJ Ed. Note: The only insurance companies named directly by S&P were: Knights of Columbus, New York Life Insurance Co., Northwestern Mutual Life Insurance Co., Teachers Insurance & Annuity Assoc. of America (TIAA), and United Services Automobile Assoc. (USAA), as well as Goldman Sachs Mitsui Marine Derivative Products LP (GSMMDP), which offers over-the-counter derivative products.