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Marron of Lightyear Says S&P Downgrade Was Reaction to Politics

Aug. 8 (Bloomberg) -- Donald Marron, founder and chairman of Lightyear Capital LLC, said Standard & Poor’s cutting of the U.S. debt rating was a response to Washington politics, not an indication of the country’s economic condition.

“We are still an AAA country,” Marron said in a Bloomberg Television interview with Tom Keene. “This was a political downgrade. It was not a business or economic downgrade. That’s not to say it wasn’t a warning for us all that we are seen in a much more fragile state, partly because of what we saw in Washington.”

To contact the reporter on this story: Laura Keeley in New York at lkeeley1@bloomberg.net

To contact the editor responsible for this story: Christian Baumgaertel at cbaumgaertel@bloomberg.net

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