Free Republic

WASHINGTON (CNNMoney) -- Little is known about key details that led Standard & Poor's to downgrade U.S. debt late Friday, despite its outsized repurcussions. While the move knocking U.S. debt down a notch from the lofty AAA rating has exacerbated an already skittish stock market and drawn criticism from the White House, key details are a mystery. S&P doesn't say who, exactly, made the decision at the company; what kind of weight they gave U.S. politics versus ability to pay; or to what extent they felt pressured to downgrade the United States in response to criticism of its downgrades of...

In the wake of one of the US's biggest financial setbacks, president Obama did nothing to calm investors down in advance of Monday's markets opening. After the S&P credit ratings downgrade on Friday, president Obama celebrated his 50th birthday party in Chicago. We had expected the nation’s leader to hold a press conference in an effort to calm investors and assure them that the US is safe and good investment. Or at least release a statement. There is a very real concern that come Monday, August 8th ,investors will drive the financial markets down. Assurances from the US president that...