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Steve Forbes: US debt downgrade a 'travesty'

On a day the Dow Jones Industrial Average fell more than 600 points, Steve Forbes, chairman and editor-in-chief of Forbes Media, tells the BBC that S&P's downgrading of America's debt was a "travesty".

The ratings agency issued its downgrade after the close of business on Wall Street on Friday. It stood by its judgement on Monday, despite criticism from US Treasury Secretary Timothy Geithner, who said they had shown "terrible judgement".

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