BLOOMBERG - S&P Credit Rating Downgrade; ECB Bond Purchases

Glenn HubbardGlenn Hubbard, dean of Columbia University's Graduate School of Business, talks about Standard and Poor's decision to downgrade U.S. credit rating to AA+ from AAA and the impact on the economy. Hubbard, speaking with Lisa Murphy and Adam Johnson on Bloomberg Television's "Fast Forward," also discusses the European Central Bank's plan to purchase government bonds of distressed nations.

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