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News Brief

Aug. 9, 2011MARYVILLE, MO |  By: Wayman

Debt Downgrade

The financial sky is NOT falling, but we are in unprecedented, uncharted times.

That's the big picture analysis from Maryville banker Jim Blackford. The senior vice president at Citizen's Bank and Trust says it's just too early and too many factors are in play to try and draw a direct connection between the S and P downgrade and the potential impact on our mortages or individual investor loans. But he says it's anybody's guess as to when America's financial picture will settle down.

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Besides the S and P downgrade, Moody's says it's analyzing US debt for the next month and says it could also downgrade within the next year.