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FBN’s Robert Gray on Fitch cutting the credit rating outlook for the Long Island Power Authority.
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I'm Robert -- was.
Business -- Wall Street continues searching for direction -- less than half an hour left in this trading day.
Right now the Dow Jones Industrial Average down just collection just turning positive -- -- eight points the S&P slightly higher.
Checking gold is moving -- on the NASDAQ down as well.
Meanwhile a jury has clear the former co managers of the reserve primary mutual fund of fraud.
The fund's value broke the buck during the 2008 financial crisis -- fail under.
The one dollar a share -- -- that money funds seek to maintain this in turn sparked panic expenses other money fines.
The federal civil trials brought by the Securities and Exchange Commission SEC alleged Bruce bent Sr and his son Bruce -- the second.
Never intended to inject more money into defined and secretly harbored doubts about their ability to do so.
The jury did find -- junior level -- one claim of negligence.
And in the wake of hurricane sandy -- -- the Long Island power authority -- credit rating outlook to a negative.
Utility still -- thousands of customers love without power.
Fitch is concerned -- will be able to absorb the cost of it's highly leveraged and already -- -- --
