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JAN 11, 2013 - Business Insider

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GOLDMAN: The Stock Market Won't Be Fooled When Washington Cries Wolf

Surely, the escalating drama surrounding the debt ceiling and the sequestration will lead to panic and cause the stock market to plummet.  Right? Wrong, says Goldman Sachs' David Kostin. "A key investment lesson of the last five years is that politicians eventually reach a compromise although markets may suffer in the interim," wrote Kostin in a note to clients this week. "Investors have become accustomed to midnight negotiations in order to avoid one dire fate after another. Accordingly, downside may be limited this time." Washington scared us with their fiscal "brinksmanship" twice in ... Read More

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