Italy's Credit Downgrade, Obama's Tax Plan

Italy's Credit Downgrade, Obama's Tax Plan Play

Sept. 20 (Bloomberg) -- Russ Koesterich, global chief investment strategist at the IShares unit of BlackRock Inc., discusses Standard & Poor’s decision to cut Italy’s credit rating and the outlook for Europe's debt crisis. S&P lowered its rating last night to A from A+, saying weak economic growth, a “fragile” government and rising borrowing costs would make it difficult to reduce Europe’s second-biggest debt. Koesterich, speaking with Betty Liu and Hans Nichols on Bloomberg Television's "In the Loop," also talks about President Barack Obama's tax proposal. (Source: Bloomberg)

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