Free Republic 4th Quarter Fundraising Target: $85,000 Receipts & Pledges to-date: $72,152
84%  
Woo hoo!! And now less than $12.9k to go!! We can do this. Thank you all very much!!

Keyword: standardpoors

Brevity: Headers | « Text »
  • VANITY- Occupy and the whole Left will reverse position on placating banks in less than a week.

    11/19/2011 1:33:49 PM PST · by NoLibZone · 26 replies
    Free Republic ^ | Nov 19 2011 | NoLibZone
    The Occupy movement , along with the entire liberal and MSM outlets shall reverse their position on placating banks in less than a week. Wait for it.
  • New Zealand downgrade by S&P and Fitch

    09/30/2011 6:11:09 PM PDT · by bruinbirdman · 6 replies
    The Telegraph ^ | 9/30/2011
    New Zealand's credit rating has been downgraded by two of the three major ratings agencies amid increased global concern over high debt burdens in developed nations. Fitch and Standard & Poor's on Friday downgraded New Zealand from an AA+ rating to AA. In the past, New Zealand has enjoyed strong sovereign credit ratings due to relatively low levels of government borrowing that offset worries about the country's high private debt. However, the ratings agencies have become less sanguine after an earthquake and weak economic growth strained the government's finances. The agencies are taking a harder line on any form of...
  • Standard & Poor's President Resigns

    08/22/2011 7:28:59 PM PDT · by M. Thatcher · 112 replies
    The Wall Street Journal ^ | AUGUST 23, 2011 | JEANNETTE NEUMANN
    Standard & Poor's President Deven Sharma is leaving the credit-rating firm at the end of the year, according to a person familiar with the matter. The credit-rating firm plans to announce Mr. Sharma's exit on Tuesday before the markets open, the person said. Douglas Peterson, chief operating officer of Citigroup Inc.'s Citibank unit, will succeed Mr. Sharma on Sept. 12, that person said.
  • Justice Dept. Investigating S.&P. Over Mortgages (Payback Time)

    08/17/2011 7:15:40 PM PDT · by tobyhill · 22 replies
    ny times ^ | 8/17/2011 | Louise Story
    The Justice Department is investigating whether the nation’s largest credit ratings agency, Standard & Poor’s, improperly rated dozens of mortgage securities in the years leading up to the financial crisis, according to two people interviewed by the government and another briefed on such interviews. The investigation began before Standard & Poor’s cut the United States’ AAA credit rating this month, but it is likely to add fuel to the political firestorm that has surrounded that action. Lawmakers and some administration officials have since questioned the agency’s secretive process, its credibility and the competence of its analysts, claiming to have found...
  • Art Laffer: Obama Must Use Reaganomics to Save Economy ('It's not magic sauce, it's common sense')

    08/10/2011 5:40:26 PM PDT · by SeekAndFind · 30 replies
    Newsmax ^ | 08/10/2011 | Martin Gould and Kathleen Walter
    The only way President Barack Obama can solve the nation’s economic woes is to adopt “common-sense” Reaganomics, the policy’s architect Arthur Laffer claims in an exclusive Newsmax.TV interview. Laffer said the White House called him in the spring and asked him to speak to Obama’s former Council of Economic Advisors’ chairman Austen Goolsbee – and he had told him exactly the same thing. “Reaganomics would fix any economy that’s in the doldrums,” Laffer said. “It’s not a magic sauce, it’s common sense. “You’ve got to get rid of all federal taxes in the extreme and replace them with a low-rate...
  • Harry Reid super-committee picks in place (A known liar/perjurer, an anti-war Socialist...)

    08/10/2011 7:24:40 AM PDT · by yoe · 42 replies
    Politico ^ | August 10, 2011 | MANU RAJU & JOHN BRESNAHAN
    n the first of what will be a closely watched selection process for a powerful new deficit panel, Senate Majority Leader Harry Reid announced he will appoint Democratic Sens. Patty Murray (Wash.), Max Baucus (Mont.) and John Kerry (Mass.) as his three choices for a super committee charged with finding more than $1 trillion in spending cuts by the end of this year. Murray will serve as co-chair of the 12-member panel. Speaker John Boehner (R-Ohio) will select her co-chair and two other panelists, as required by the debt limit agreement signed into law by President Barack Obama last week....
  • The Iceman Cometh by Alice Travis

    08/10/2011 2:47:11 AM PDT · by Embargo · 8 replies
    Cognitive Evolution Blog ^ | August 8, 2011 | Alice Travis
    Society will survive and law and order will prevail. And it is within the realm of possibilities that some extremists will propose draconian measures requiring, for example, that offenders be corralled in their own neighborhoods behind concrete barriers and chain linked fences. This would be a pretty ugly America.
  • Berkshire, Other Insurers Get ‘Negative’ Tag from S&P.

    08/08/2011 5:24:50 PM PDT · by STARWISE · 6 replies
    Wall Street Journal ^ | 8-8-11 | Shira Ovide
    <p>After Standard & Poor’s bit an appendage from the U.S.’s credit rating, the credit-rating firm is smelling blood in the water at Warren Buffett’s Berkshire Hathaway.</p> <p>Berkshire, which make big chunks of money from its insurance and reinsurance businesses, is spared the loss of its AA+ rating for now. But S&P marked Berkshire’s outlook down to “negative” from stable.” UPDATE: Buffett told Fox Business Network he isn’t surprised about S&P’s move. S&P had telegraphed plans to knock down insurers if the U.S. were downgraded.</p>
  • Freddie Mac reports 2Q loss, asks gov't for $1.5B

    08/08/2011 2:46:09 PM PDT · by Justaham · 14 replies
    WASHINGTON (AP) - Government-controlled Freddie Mac is asking for $1.5 billion in additional federal aid after posting a loss this spring. The mortgage giant says it lost $4.69 billion, or $1.44 cents per share, in April-June quarter. That takes into account $1.6 billion in dividends paid to the Treasury Department. It compares with a loss of $6 billion, or $1.85 per share, during the same quarter in 2010. The government rescued McLean, Va.-based Freddie Mac and sibling company Fannie Mae in September 2008 after massive losses on risky mortgages threatened to topple them. Standard & Poor's cited the link to...
  • Mystery surrounds details of S&P downgrade [ CNN rejects Axelrods & Kerrys TP blame ]

    08/08/2011 1:00:42 PM PDT · by NoLibZone · 23 replies
    money.cnn.com ^ | August 8 2011 | By Jennifer Liberto
    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...
  • Michael Moore to Obama: ‘Show some guts,’ arrest S&P head

    08/08/2011 2:14:11 PM PDT · by seanmerc · 57 replies
    The Washington Times ^ | 8 Aug 11 | Victor Morton
    Liberal firebrand Michael Moore called on President Obama to respond to the U.S. credit downgrade by arresting the leaders of the credit-ratings agencies. On his Twitter feed Monday, the Oscar-winning film director also blamed the 2008 economic collapse on Standard & Poor’s — apparently because it and other credit-ratings agencies did not downgrade mortgage-based bonds, which encouraged the housing bubble and let it spread throughout the economy. “Pres Obama, show some guts & arrest the CEO of Standard & Poors. These criminals brought down the economy in 2008& now they will do it again,” Mr. Moore wrote.
  • President Obama talks S&P downgrade — finally

    08/08/2011 1:45:32 PM PDT · by NoLibZone · 9 replies
    Washington Post ^ | Aug 8 2011 | By Jena McGregor
    It was about time the president weighed in with a statement about the U.S. credit rating downgrade by Standard & Poor’s. And that’s not just because the reporters in the room were getting antsy after the president was 50 minutes late getting started. Rather, Obama’s press briefing Monday afternoon about the Standard & Poor’s downgrade came after a weekend in which the primary messaging strategy from the White House seemed to be excuses. Following a bizarre back and forth Friday evening in the news over whether the ratings agency got its math right—a “has it really come to this?” moment...
  • The 2 trillion 'error' - Turns out Turbo Tax Timmy lied again

    08/08/2011 1:44:29 PM PDT · by JosephSmithNAW · 12 replies
    NRO ^ | Andrew C. McCarthy
    .....Yet, as S&P has explained, unlike the administration and the CBO, it focuses on a three-to-five year window. S&P finds that this timeframe, which is more in the control of the current Congress and president, is a more reliable predictor of financial health than illusory ten-year forecasts....
  • No Chance of Default, US Can Print Money: Greenspan

    08/07/2011 8:28:39 PM PDT · by edpc · 46 replies
    CNBC ^ | 7 Aug 2011
    Former Federal Reserve Chairman Alan Greenspan on Sunday ruled out the chance of a US default following S&P's decision to downgrade America's credit rating. The United States can pay any debt it has because we can always print money to do that. So there is zero probability of default" said Greenspan on NBC's Meet the Press. "What I think the S&P thing did was to hit a nerve that there's something basically bad going on, and it's hit the self-esteem of the United States, the psyche" said Greenspan.
  • Leaders scramble to head off 'black Monday' on markets

    08/07/2011 7:55:57 PM PDT · by bruinbirdman · 41 replies
    France 24 ^ | 8/7/2011 | AFP
    World leaders made emergency conference calls Sunday, seeking solutions to the US debt and eurozone crises ahead of a feared disastrous reopening of markets on Monday. In a possible bellwether, Israel's market fell seven percent. World leaders searched Sunday for answers to a global debt crisis, hoping to head off a massacre on markets spooked by an unprecedented US rating downgrade and Europe's swelling malaise. France and Germany called for full implementation of measures agreed at a eurozone summit in July to safeguard the single currency as markets braced for fresh turmoil this week. "President (Nicolas) Sarkozy and Chancellor (Angela)...
  • S&P's Beers: We Don't Have a Hit List(France next?)

    08/07/2011 7:41:05 PM PDT · by TigerLikesRooster · 5 replies
    CNBC ^ | 08/07/11 | Deepanshu Bagchee
    S&P's Beers: We Don't Have a Hit List Published: Sunday, 7 Aug 2011 | 8:58 PM ET By: Deepanshu Bagchee Supervising Digital Editor, CNBC Asia After Standard and Poor's historic downgrade of the U.S.'s credit rating to AA-plus from triple-A, fears are growing that other countries may be next, most notably France, which is facing big costs from a bailout of troubled Euro zone countries. But the global head of sovereign ratings at S&P says the agency does not have a target list and will downgrade ratings as and when it sees deteriorating economic performance or debt burdens. "We don't...
  • Geithner: S&P showed terrible judgment

    08/07/2011 6:57:45 PM PDT · by Justaham · 65 replies
    Associated Press ^ | 8-8-11 | MARTIN CRUTSINGER
    WASHINGTON – The credit rating agency Standard & Poor's showed "terrible judgment" in lowering the U.S. government's credit rating, Treasury Secretary Timothy Geithner said Sunday. "They've handled themselves very poorly. And they've shown a stunning lack of knowledge about the basic U.S. fiscal budget math," Geithner said in his first public comments about the credit rating decision. Interviewed on CNBC, Geither said that U.S. Treasury securities were just as safe now as they were before S&P announced its downgrade. He predicted that China and investors would remain strong purchasers of U.S. government debt. Republicans have blamed President Barack Obama for...
  • Major world markets set to open after U.S. credit downgradeBy

    08/07/2011 5:07:01 PM PDT · by Presbyterian Reporter · 16 replies
    CNN ^ | August 7, 2011 | Tom Cohen
    Markets react to ratings cuts in the U.S.STORY HIGHLIGHTS NEW: Investors are weighing both the downgrade and the Investors are waiting anxiously for major world markets to open for Monday trading, following the U.S. credit rating downgrade to AA+ from the top rank of AAA. Stock futures tumbled more than 2% at the start of electronic trading Sunday, signaling a nasty investor reaction According to data from the Chicago Mercantile Exchange, S&P 500 futures fell 30 points, or 2.7%. Nasdaq-100 futures contracts slipped 54 points, or 2.5%. Dow Jones industrial average futures were 292 points, or 2.6%, lower. The futures...
  • Geithner-U.S. Treasuries still safe after downgrade (Administration in complete denial)

    08/07/2011 5:17:05 PM PDT · by tobyhill · 44 replies
    reuters ^ | 8/7/2011 | reuters
    U.S. Treasury debt is as safe as it was before a Standard & Poor's rating downgrade of the United States and Congress' "damaging" debate over raising the country's debt limit, Treasury Secretary Timothy Geithner said on Sunday. Geithner, in an interview with NBC/CNBC television, also called on European leaders to ensure that there is an "unequivocal financial backstop" for euro zone governments facing fiscal and debt problems. He added that a double-dip recession was unlikely if governments and central banks made good decisions. Asked whether Treasuries were as safe now as they were last week, Geithner replied: "Absolutely. And the...
  • Rep. Ryan’s warning

    08/07/2011 12:14:05 PM PDT · by americanophile · 61 replies · 1+ views
    Boston Herald ^ | August 7, 2011 | Boston Herald Editorial Staff
    Standard & Poor’s downgrade of the nation’s credit rating gives House Budget Committee Chairman Paul Ryan every right to say “I told you so.” Even earlier this week when President Obama was taking his victory lap for the debt-ceiling compromise, Ryan was disclosing the cold, hard truths of the economic troubles that lie ahead — truths that a jittery Wall Street has been more than aware of. In an oped column in Wednesday’s Wall Street Journal, the Wisconsin Republican reiterated, of course, that the president really has no budget plan. “The president’s February budget,” he wrote, “deliberately dodged the tough...
  • Kerry Blames The Tea Party For Credit Downgrade

    08/07/2011 10:17:45 AM PDT · by Steelfish · 64 replies
    Washington Times ^ | August 07, 2011 | Ben Wolfgang
    Kerry Blames The Tea Party For Credit Downgrade By Ben Wolfgang-The Washington Times1 Sen. John Kerry on Sunday laid the blame for the recent downgrade of the nation’s credit rating at the feet of conservative House Republicans. “I believe this is, without question, the tea party downgrade,” Mr. Kerry, Massachusetts Democrat, said on NBC’s “Meet the Press.” Standard & Poor’s rating agency on Friday dropped the U.S. credit rating from AAA to “AA+, questioning the ability of leaders in Washington to deal seriously with the nation’s debt crisis. The Obama administration’s debt-ceiling proposal, which included more spending cuts than the...
  • White House adviser blames tea party for downgrade (Axelrod)

    08/07/2011 10:08:27 AM PDT · by NormsRevenge · 153 replies
    Yahoo ^ | 8/7/11 | AP
    WASHINGTON (AP) — A top White House adviser is blaming the downgrade of the U.S. credit rating on tea party Republicans, whom he says were unwilling to compromise on how to reduce the federal debt. The adviser to President Barack Obama, David Axelrod, tells CBS' "Face the Nation" on Sunday .. ... .. also criticized GOP presidential candidates for not speaking up in favor of compromise.
  • Politicians points fingers over credit crisis (Axelrod blames Tea Party)

    08/07/2011 11:58:17 AM PDT · by Cincinatus' Wife · 26 replies
    Houston Chronicle ^ | August 7, 2011 | AP
    A top Obama adviser blames tea party for downgrade WASHINGTON — Who's to blame for the U.S. debt-ceiling mess? Politicians and political advisers took to the airwaves Sunday to point fingers, mostly at each other. David Axelrod, a top political adviser to President Barack Obama, blames the downgrade of the U.S. credit rating on tea party Republicans for being unwilling to compromise on how to reduce the federal debt. The Obama campaign strategist tells CBS' Face the Nation on Sunday that the decision by the Standard & Poor's credit agency to downgrade the U.S. from AAA to AA+ for the...
  • MoveOn.org drives new liberal catch phrase: ‘Tea party downgrade’

    08/07/2011 1:13:08 PM PDT · by Sub-Driver · 146 replies · 1+ views
    MoveOn.org drives new liberal catch phrase: ‘Tea party downgrade’ Matthew Boyle - The Daily Caller 43 mins ago The left-wing activist group MoveOn.org picked up the new liberal slogan bashing conservatives for Standard & Poor’s U.S. credit rating downgrade: “Tea Party downgrade.” President Obama’s chief campaign strategist David Axelrod and Massachusetts Democratic Sen. John Kerry both used the phrase on Sunday talk shows. In a Sunday afternoon email to supporters, MoveOn.org accused tea partiers of being responsible for the first-ever credit downgrade in U.S. history. “This ‘tea party downgrade’ is a shameful blow to our nation’s honor and risks throwing...
  • S&P: France's AAA rating is stable

    08/07/2011 1:14:34 AM PDT · by ScaniaBoy · 6 replies
    Jerusalem Post ^ | August 7, 2011 | Reuters
    PARIS - France's AAA rating is stable, ratings agency Standard and Poor's chief European economist Jean-Michel Six told France Inter radio on Sunday. < SNIP > Six said that political leadership and good governance are a major factor in ratings agencies' deliberations about rating reviews.
  • S&P warns of a second downgrade

    08/06/2011 2:11:26 PM PDT · by Clairity · 158 replies
    Politico ^ | August 6, 2011 | Josh Boak
    One day after lowering the nation’s platinum triple-A credit rating, Standard & Poor’s analysts warned Saturday that the U.S. government could face a second downgrade if the economy continues to struggle and the government fails to make the cuts outlined in the debt ceiling agreement. The ratings agency on Friday downgraded the nation to AA+ for the first time in history, saying partisanship in Washington is preventing dramatic deficit reduction.
  • America's debt downgrade is a damning indictment of President Obama's Big Government disaster

    08/06/2011 2:16:45 PM PDT · by Clairity · 94 replies · 1+ views
    The Telegraph ^ | Aug 6, 2011 | Nile Gardiner
    The decision by credit agency Standard and Poor’s to downgrade America’s AAA credit rating for the first time in 70 years is a massive blow to the credibility of the Obama administration, and a damning indictment of its handling of the economy. No doubt the White House will pathetically try to blame the Bush Administration, Republicans in Congress, and of course its favourite target, the Tea Party, for the move by S&P. But without a shadow of a doubt, responsibility for the country’s financial mess and staggering levels of debt lie with the current US president and his administration. They...
  • After S&P downgrade, WH says 'we must do better'

    08/06/2011 2:42:35 PM PDT · by Justaham · 29 replies
    Associated Press ^ | Mark S. Smith
    WASHINGTON (AP) - President Barack Obama sought to distance himself Saturday from the bad news of the nation's first-ever credit-rating downgrade, but lawmakers and presidential candidates showed no such reticence—trading salvos over who's at fault and why. The president, spending the weekend at Camp David, left it to press secretary Jay Carney to say it's clear Washington "must do better" in tackling soaring deficits and other economic woes. A statement from Carney said talks that produced Tuesday's $2 trillion compromise on raising the U.S. borrowing limit had been too drawn-out and "divisive." But the statement didn't directly address Friday's move...
  • Reid:S&P downgrade backs Dems' call for more revenue

    08/06/2011 8:43:43 AM PDT · by Cheerio · 109 replies
    TheHill ^ | 08/05/11 | Jamie Klatell
    Standard & Poor's decision to downgrade the nation's credit rating reinforces Democrats' call for increasing tax revenue, Senate Majority Leader Harry Reid (D-Nev.) said Friday.
  • U.S. AAA credit rating DOWNGRADED for first time in history after Obama's debt deal

    08/06/2011 7:57:29 AM PDT · by KeyLargo · 68 replies · 1+ views
    Daily Mail UK ^ | Aug 6, 2011
    U.S. AAA credit rating DOWNGRADED for first time in history after Obama's debt deal Unprecedented move will send shockwaves globally S&P cuts long-term credit rating from AAA to AA+ Borrowing costs for consumers and government to rise Comes after Obama signed bill to reduce fiscal deficit By Daily Mail Reporter Last updated at 1:08 PM on 6th August 2011 The U.S. has lost its top-notch AAA credit rating from Standard & Poor's in an unprecedented reversal of fortune for the world's largest economy. S&P cut the long-term U.S. credit rating by one notch to AA+ on concerns about the government's...
  • Obama officials attack S&P's credibility after downgrade

    08/05/2011 10:45:42 PM PDT · by tobyhill · 84 replies
    reuters ^ | 8/5/2011 | Glenn Somerville and Rachelle Younglai
    The Obama administration attacked the credibility of the analysis underlying Standard & Poor's decision to downgrade the United States' top credit rating on Friday, saying it had found a $2 trillion error. S&P was forced to remove the number from its analysis after Treasury officials discovered that the rating agency's estimates of the government's discretionary spending was $2 trillion too high, sources familiar with the discussions said.
  • Obama administration official calls S&P analysis 'way off' [ Wh says its S&P not TP's fault ]

    08/05/2011 11:00:44 PM PDT · by NoLibZone · 46 replies
    CNN ^ | Aug 5 2011
    The Obama administration angrily responded to Standard & Poor's decision Friday to downgrade the U.S. credit rating, with one senior official saying the agency's "analysis was way off." U.S. Treasury officials received S&P's analysis Friday afternoon and alerted the agency to an error that inflated U.S. deficits by $2 trillion, said the administration official, who was not authorized to speak for attribution. The agency acknowledged the mistake, but said it was sticking with its decision to lower the U.S. rating from a top score of AAA to AA+. "This is a facts-be-damned decision," the official said. "Their analysis was way...
  • Obama briefed on S&P downgrade before leaving W.House

    08/05/2011 11:59:20 PM PDT · by Berlin_Freeper · 23 replies
    reuters.com ^ | August 6, 2011 | Reuters
    Obama left the White House for the Camp David presidential retreat outside Washington in late afternoon just hours before S&P's announcement. "He was briefed before he left for Camp David and has been receiving updates through the night," the official said.
  • S&P statement on lowering US long-term debt to AA+

    08/05/2011 9:28:50 PM PDT · by freespirited · 33 replies
    Guardian ^ | 08/06/11 | Standard & Poor's
    • We have lowered our long-term sovereign credit rating on the United States of America to 'AA+' from 'AAA' and affirmed the 'A-1+' short-term rating. • We have also removed both the short- and long-term ratings from CreditWatch negative. • The downgrade reflects our opinion that the fiscal consolidation plan that Congress and the Administration recently agreed to falls short of what, in our view, would be necessary to stabilize the government's medium-term debt dynamics. • More broadly, the downgrade reflects our view that the effectiveness, stability, and predictability of American policymaking and political institutions have weakened at a time...
  • Australia PM downplays US debt downgrade fears [ Yes Debt and not credit down grade ]

    08/05/2011 10:26:50 PM PDT · by NoLibZone · 2 replies
    Afp ^ | 8-5-11 | AFP
    SYDNEY — Australian Prime Minister Julia Gillard sought to calm public nerves over global debt woes Saturday after Standard & Poor's cut the United States' credit rating for the first time in history. Gillard told Australians their economy was well placed to weather financial crises looming in the US and Europe and would not be heavily affected by S&P's decision to downgrade the US rating from AAA to AA+. "People should look with confidence at our economic credentials and fundamentals, and people should look with confidence at the ability of this government to deal with global instability," Gillard said.
  • Former Obama Economic Adviser on Downgrade: We're 'Pretty Darn [expletive] [profanity in article]

    08/05/2011 10:14:54 PM PDT · by RatherBiased.com · 67 replies
    NewsBusters ^ | Noel Sheppard
    Christina Romer, the former chair of Obama's Council of Economic Advisers on Friday offered a rather strong opinion concerning the announcement by Standard & Poor's that the credit rating agency downgraded America's debt to AA+. Appearing on HBO's "Real Time," Romer said we're "pretty darn f--ked" (video follows with transcript and absolutely no commentary needed): ---- BILL MAHER, HOST: So, excuse my language, but we used to do a segment on this show called “How F—ked Are We?” (VIDEO CLIP) MAHER: I didn’t expect that there. This, just before we went on the air they said our rating got downgraded....
  • CBS: Dems, GOP react to debt downgrade [ copy it fast! ]

    08/05/2011 10:19:22 PM PDT · by NoLibZone · 22 replies
    cbsnews.com ^ | Aug 5 2011
    (CBS/AP) Following the news Friday of Standard and Poor's downgrade on the U.S. debt, several politicians from both sides of the aisle offered their reactions. Democratic Senate Majority Leader Harry Reid released a statement: "This makes the work of the joint committee all the more important, and shows why leaders should appoint members who will approach the committee's work with an open mind -- instead of hardliners who have already ruled out the balanced approach that the markets and rating agencies like S&P are demanding." Reid was referring to the special bipartisan congressional committee -- made up of six Democrats...
  • S&P Downgrades U.S. Debt Rating — Press Release (Boehner-McConnell FAILURE)

    08/05/2011 5:58:18 PM PDT · by jimbo123 · 55 replies
    Wall Street Journal ^ | 8/5/11 | S&P
    Standard & Poor’s took the unprecedented step of downgrading the U.S. government’s “AAA” sovereign credit rating Friday in a move that could send shock waves through global. The following is a press release from Standard & Poor’s: – We have lowered our long-term sovereign credit rating on the United States of America to ‘AA+’ from ‘AAA’ and affirmed the ‘A-1+’ short-term rating. – We have also removed both the short- and long-term ratings from CreditWatch negative. – The downgrade reflects our opinion that the fiscal consolidation plan that Congress and the Administration recently agreed to falls short of what, in...
  • US government loses triple-A credit rating [downgraded sans a credible reduction package ]

    08/05/2011 6:08:51 PM PDT · by NoLibZone · 30 replies
    MSNBC ^ | August 5 2011 | MSNBC
    S&P cut the long-term U.S. credit rating by one notch to AA-plus. The credit agency said late Friday that it was making the move because the deficit reduction plan passed by Congress on Tuesday did not go far enough to stabilize the country's debt situation. U.S. Treasuries, once undisputedly seen as the safest investment in the world, are now rated lower than bonds issued by countries such as the United Kingdom, Germany, France or Canada. The outlook on the new U.S. credit rating is negative, S&P said in a statement, a sign that another downgrade is possible in the next...
  • United States loses AAA credit rating from S&P

    08/05/2011 6:16:35 PM PDT · by Iam1ru1-2 · 29 replies · 1+ views
    BuenosAiresHerald.com ^ | August 5, 2011 | BuenosAiresHerald.com
    The United States lost its top-notch AAA credit rating from Standard & Poor's on Friday in an unprecedented reversal of fortune for the world's largest economy. S&P cut the long-term US credit rating by one notch to AA-plus on concerns about the government's budget deficits and rising debt burden. The move is likely to raise borrowing costs eventually for the US government, companies and consumers. "The downgrade reflects our opinion that the fiscal consolidation plan that Congress and the Administration recently agreed to falls short of what, in our view, would be necessary to stabilize the government's medium-term debt dynamics,"...
  • U.S. loses AAA credit rating from S&P

    08/05/2011 5:51:21 PM PDT · by GQuagmire · 409 replies
    Yahoo.com via Reuters ^ | 8/5/11 | Walter Brandimarte
    NEW YORK (Reuters) - The United States lost its top-notch AAA credit rating from Standard & Poor's on Friday, in a dramatic reversal of fortune for the world's largest economy. S&P cut the long-term U.S. credit rating by one notch to AA-plus on concerns about growing budget deficits. U.S. Treasuries, once undisputedly seen as the safest investment in the world, are now rated lower than bonds issued by countries such as the UK, Germany, France or Canada
  • Govt officials: US expecting S&P downgrade -- based on "serious mistake" in analysis*

    08/05/2011 5:04:57 PM PDT · by mandaladon · 77 replies
    ABC News ^ | 5 Aug 2011
    Two government officials tell ABC News that the federal government is expecting and preparing for bond rating agency Standard & Poor’s to downgrade the rating of US debt from its current AAA value. Official reasons given, one official says, will be the political confusion surrounding the process of raising the debt ceiling, and lack of confidence that the political system will be able to agree to more deficit reduction. A source says Republicans saying that they refuse to accept any tax increases as part of a larger deal will be part of the reason cited. The official was unsure if...
  • U.S. loses AAA credit rating from S&P [copy 2]

    08/05/2011 5:51:56 PM PDT · by NormsRevenge · 70 replies
    Yahoo ^ | 8/5/11 | Walter Brandimarte - Reuters
    NEW YORK (Reuters) - The United States lost its top-notch AAA credit rating from Standard & Poor's on Friday, in a dramatic reversal of fortune for the world's largest economy. S&P cut the long-term U.S. credit rating by one notch to AA-plus on concerns about growing budget deficits. U.S. Treasuries, once undisputedly seen as the safest investment in the world, are now rated lower than bonds issued by countries such as the UK, Germany, France or Canada.
  • Govt official: US expecting S&P downgrade

    08/05/2011 2:36:33 PM PDT · by Bigtigermike · 29 replies
    ABC ^ | Friday August 5, 2011 | Jake Tapper
    A government official tells ABC News that the federal government is expecting and preparing for bond rating agency Standard & Poor’s to downgrade the rating of US debt from its current AAA value. Officials reasons given will be the political confusion surrounding the process of raising the debt ceiling, and lack of confidence that the political system will be able to agree to more deficit reduction.
  • Lawmaker probing if Treasury meddled in S&P rating

    07/27/2011 6:37:38 PM PDT · by markomalley · 14 replies
    Reuters ^ | 7/27/11 | Sarah N. Lynch and Rachelle Younglai
    A congressional panel is examining whether the Obama administration tried to unduly influence Standard & Poor's before the credit rater revised its outlook on the debt rating to negative. Randy Neugebauer, the Republican chairman of a House oversight panel, said on Wednesday his staff is probing whether Treasury tried to make material changes to a draft of S&P's news release announcing the negative outlook revision in April. "Our concern was if the administration was trying to influence this rating decision some -- above what would be a normal practice," Neugebauer told reporters after a hearing examining oversight of the credit...
  • Chris Christie has an Obligation to Run

    04/30/2011 4:50:41 AM PDT · by Scanian · 44 replies · 1+ views
    The American Thinker ^ | April 30, 2011 | Jim Yardley
    The recent decision by Standard & Poor's to reduce the forecast of their rating of U.S. debt has forced a reevaluation of all the candidates for President now jockeying for position in the Republican field. I am well aware that Governor Chris Christie has been encouraged to consider running for President of the United States, and he has been consistent, admirably consistent in fact, in stating that he will not run. He has said that he feels an obligation to New Jersey voters to fulfill the term of office to which he was elected, and to do what he thinks...
  • Taxes aren't the answer

    04/25/2011 4:28:38 AM PDT · by Scanian · 51 replies
    NY Post ^ | April 25, 2011 | Editorial
    Standard & Poor's warning last week of a possible downgrading of America's credit rating sent tremors through markets worldwide -- and underscored the nation's short- and long-term deficit and debt woes. The warning came just days after the speech in which President Obama basically dismissed the House GOP's comprehensive long-term budget outline -- which addresses the need to restrain growth in discretionary spending and entitlements. Instead, the president just focused on raising income -- and possibly payroll -- taxes on the wealthiest Americans. On cue, administration supporters pushed the usual talking point: The wealthy aren't paying "their fair share" since...
  • Credit Rating Wake Up Call on Debt?

    04/21/2011 11:52:32 AM PDT · by JohnRLott · 4 replies
    Fox News ^ | April 21, 2011 | John R. Lott Jr.
    Fox News analysis of Standard & Poor's warning the U.S. over debt. Video available at link.
  • Nat'l red (Ink) alert: Uncle Sam's sinking credit

    04/19/2011 3:28:05 AM PDT · by Scanian · 3 replies
    NY Post ^ | April 18, 2011 | Michael A. Walsh
    Well, looky here: Hard on the heels of the House's passage of Rep. Paul Ryan's bold "path to prosperity" budget -- and just in time for the big debate over raising the nation's $14 trillion debt ceiling in order to keep borrowing money we don't have to keep funding "entitlement" programs we can no longer afford in their present forms -- along comes the credit-rating agency, Standard & Poor's, with a bracing dose of reality therapy. The outlook on the country maintaining its long-term AAA credit rating is now officially "negative": "We believe there is a material risk that US...
  • S&P report gives boost to Tea Party agenda

    04/18/2011 9:01:57 PM PDT · by NormsRevenge · 6 replies
    Yahoo ^ | 4/18/11 | Thomas Ferraro - Reuters
    WASHINGTON (Reuters) – The powerful yet often criticized Tea Party movement found its fiscal conservatism strengthened on Monday when Standard & Poor's threatened to downgrade the U.S. credit rating. S&P's move changing its outlook on the U.S. rating to negative from stable comes as Republicans and Democrats spar over how to slash the deficit and debate whether to raise the limits on U.S. credit. The influential Wall Street rating agency changed its credit outlook for the United States citing a "material risk" that Washington may not agree on how to trim the massive U.S. deficit, projected to reach $1.4 trillion...