Just a couple of weeks after Standard & Poor downgraded America’s sovereign debt, the Justice Department has announced that it is investigating the ratings firm over its treatment of mortgage securities. The government says that the investigation began before S&P announced the downgrading of U.S. debt.
Meanwhile, despite the efforts of the Swiss government, the franc continues to rise against the euro. This has created the opportunity for Swiss citizens to cross the border into Germany and take advantage of the exchange rate to shop for bargains.
In other news, demonstrators once again attacked the high-speed rail project (TAV) which is under construction in northern Italy. Part of a chain-link fence at a viaduct was destroyed, and a protester who was hurt in the demonstration was also arrested.
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