UT professor on U.S. credit downgrade

AUSTIN (KXAN) - With markets opening Monday, the country will soon have an idea of what the downgrade could mean for investors.

University of Texas LBJ School Professor Robert Auerbach was asked what investors can expect. He is a former economist for the House of Representatives and the U.S. Treasury Department.

He thinks the Standard and Poor's acted too soon and the downgrade won't have a broad impact on the cost of borrowing. But, he said, it could do some immediate harm.