Standard & Poor's Friday put a broad range of financial firms on negative credit watch, warning they could all be downgraded if the United States has its credit rating cut. 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. S&P characterized its targets as "entities with direct links to, or reliance on, the federal government." [Reuters]
*Not actually necessary. Corpses are also on notice.