El-Erian: U.S. a “Very, Very Long Way” from Default Risk

Mohamed El-Erian, co-CEO of PIMCO, spoke to Bloomberg Television’s Betty Liu and Erik Schatzker this morning regarding the S&P downgrade and its impact on the markets and economy. El-Erian said that the S&P downgrade is perhaps not yet the “Sputnik moment” and that the costs and risks of any new QE have gone up. Excerpts [...]