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While JPMorgan Chase CEO Jamie Dimon said that the downgrade “doesn’t really matter that much,” and that US credit is sound and should be the highest-rated in the world, and Treasury Secretary Janet Yellen called the downgrade “entirely unwarranted", Schwarzman said Fitch's move was appropriate after multiple debt-limit standoffs.
“The numbers justify it, regrettably,” the Blackstone Inc. chief executive officer said on CNBC Friday. “We’ve had an explosion of debt since the global financial crisis. We don’t appear to have a lot of discipline.”
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