Grover Norquist, president of Americans for Tax Reform, told Newsmax on Tuesday that “investment has to be readjusted” after Moody’s cut the ratings of 10 U.S. banks.
When asked about Moody’s move to downgrade the ratings of various small lenders, which follows the recent collapses of Silicon Valley Bank, among others, Norquist said on “National Report” that “probably more of this sort of thing” can be expected in the future.
“You don’t know who’s going to get hit, what industries, when the government spends as much money, when it inflates the currency by 16% over the last several years, there’s all this ‘malinvestment,’” he continued.
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