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Keyword: creditrating

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  • Will a Threat to U.S. Credit Rating Convince Republicans to Care About Global Warming?

    05/15/2014 9:45:29 PM PDT · by NormsRevenge · 41 replies
    Yahoo! News ^ | 5/15/14 | Danielle Wiener-Bronner - atlantic wire
    Standard & Poor's Ratings Services (S&P) warned on Thursday that climate change will force down the credit ratings of countries throughout the world. Will this be the straw that breaks the climate change-deniers' backs? "Climate change is likely to be one of the global mega-trends impacting sovereign creditworthiness, in most cases negatively," S&P notes, adding "Assuming that extreme weather events are on the rise in terms of frequency and destruction, .. The S&P report closely follows one published by the CNA Corporation Military Advisory Board on Tuesday, which found climate change to be a risk to national security. The study...
  • Standard and Poor's Downgrades Russia's Credit Rating (1 Notch above Junk)

    04/27/2014 5:51:40 AM PDT · by equalator · 13 replies
    Breitbart ^ | 4-25-14 | Chriss Street
    Standard & Poor’s downgraded Russia’s credit rating to BBB-, just one notch above junk, and warned that the nation faced a further downgrade in the event of tighter financial sanctions by members of the North Atlantic Treaty Organization (NATO). To prevent a big drop in the exchange rate of their ruble currency, Russia’s central bank increased its benchmark interest rate to 7.5% in an effort to trim inflation. The Central Bank of Russia raised the rate it loans to the nation’s bank by .5% following the S&P downgrade. The last time the country’s monetary authorities raised rates was in March--to...
  • 3 huge cities flirting with bankruptcy (NYC, Chicago, LA)

    03/03/2014 4:18:34 PM PST · by Libloather · 40 replies
    MSN ^ | 3/03/14 | Karen Riccio
    Detroit's looming bankruptcy is making news again, this time focusing on current restructuring plans aimed to wipe out $18 billion in debt by axing pension checks of city retirees, including police and fire. Massive long-term retirement and healthcare promises were by no means solely responsible for the city's fall, but these massive pensions coupled with a tax base weakened by high unemployment and housing vacancies caused the budget to bleed out quicker. The Michigan city may be the most recent victim of bankruptcy, but many of the 61 largest U.S. cities have adopted the same retirement legacy leading to $118...
  • Chicago Credit Rating Now Lower Than Any Major City Except Detroit

    03/05/2014 9:10:37 AM PST · by SeekAndFind · 12 replies
    FrontPage Mag ^ | 03/05/2014 | Daniel Greenfield
    America is now run by the best and brightest of Chicago. What they did to Chicago, they’re doing to America. Moody’s Investors Service has downgraded Chicago’s credit rating, citing the city’s unfunded pension liabilities.The agency announced Tuesday it’s lowering the rating on $8.3 billion in debt from A3 to Baa1, putting it only three notches above junk-bond status.Moody’s Investor Service rated the city’s upcoming $388 million bond issuance at Baa1, down from A3, a level set last year after an unusual triple downgrade.Chicago will test the bond market for the first time since its bond rating dropped three notches, thanks...
  • Auto Trade Group Caves To Obama Race-Mongers

    02/07/2014 5:06:25 PM PST · by jazusamo · 23 replies
    Investors.com ^ | February 7, 2014 | IBD Editorial
    Racial Politics: Like mortgage lenders, the auto industry is inoculating itself against trumped-up racism charges by adjusting the way it prices loans. Eric Holder's witch hunt is spreading — and doing lasting damage. On Friday, the National Automobile Dealers Association issued new "fair credit" guidelines to protect the 16,000 car dealers it represents from discrimination lawsuits filed by the Justice Department and Consumer Financial Protection Bureau. The agencies have teamed up to frame car lenders as bigots after successfully framing home lenders. "Fulfilling these goals is particularly important in light of recent allegations," NADA said in a memo to members....
  • Sony’s Credit Rating Cut To “Junk” By Moody’s

    01/27/2014 4:12:10 PM PST · by aimhigh · 19 replies
    Techcrunch ^ | 01/27/2014 | Romain Dillet
    Bond credit rating agency Moody’s cut the credit rating of Sony from Baa3 to Ba1 with a stable outlook — Ba1 is also just below investment grade. In other words, Sony is considered a speculative investment right now and it will become harder for the company to borrow money. Today’s downgrade comes from its volatile net profit. Despite many staff cuts, some divisions, such as its PC and TV activities, are still losing money or are barely in the black. Increased competition in these areas are to blame.
  • Geithner Warned S&P Chairman US Would Retaliate For Downgrade

    01/21/2014 6:08:55 AM PST · by Rusty0604 · 14 replies
    Zerohedge ^ | 01/21/2014 | Tyler Durden
    <p>Peter Barnes “Is there a risk that the United States could lose its AAA credit rating? Yes or no?”</p> <p>Geithner’s response: “No risk of that.”</p> <p>“No risk?” Barnes asked.</p> <p>“No risk,” Geithner said.</p> <p>Considering that the US was downgraded by S&P just 4 months later, one person who certainly will never forget his idiotic preannouncement, is the former Treasury secretary, Tim Geithner. And being the sore loser that everyone suspected he was (although one hopes his recent well-paid move to Warburg Pincus will help soothe his sensitivity) it will come as no surprise that Geithner told the Chairman of embattled rating agency Standard & Poor's, that its downgrade of the US from AAA to AA+ "would be met by a response."</p>
  • Weak Growth: Agency Strips Netherlands’ AAA Rating

    11/29/2013 7:11:23 PM PST · by Olog-hai · 2 replies
    Der Spiegel ^ | November 29, 2013 – 12:24 PM | (dsl, with wires)
    The list of eurozone countries with immaculate credit ratings took another hit this week. On Friday morning, Standard & Poor’s (S&P) removed the Netherlands’ top rating, downgrading the country to AA+. This leaves only three countries in the common currency area with the best grade of AAA: Finland, Luxembourg and Germany. Two years ago, six countries still had that rating. … Dutch Finance Minister Jeroen Dijsselbloem, who is also president of the Euro Group, recently announced that his country would violate the European Commission’s deficit rules despite an additional €6 billion ($8.16 billion) austerity package. … Like Germany, the Netherlands...
  • S&P Upgrades U.S. Credit Outlook to ‘Stable’

    06/10/2013 2:24:54 PM PDT · by lowbridge · 6 replies
    http://www.foxbusiness.com ^ | june 10, 2013 | matt egan
    Ratings company Standard & Poor’s upgraded its outlook on the U.S. to “stable” from “negative” on Monday and said “tentative improvements” on the political and economic fronts have bought Washington extra time to grapple with long-term challenges. The move comes almost two years after S&P shook up Washington by becoming the first ratings company to remove the nation’s pristine “AAA” rating due to widespread concerns about soaring debt and deficit levels. But S&P affirmed its “AA+” credit rating on the U.S. on Monday and said the revised outlook to “stable” indicates the likelihood of a near-term downgrade is less than...
  • Gold backwardization - so what?

    05/26/2013 1:48:13 AM PDT · by djf · 16 replies
    Some gal on the radio is talking about permanent gold backwardization. I know the gist of things means that the futures price is lower than the spot price, but what does this whole thing mean exactly? She says trade would just stop. Why would that be? Anyone know about this? Does it mean the quoted spot price is basically meaningless?
  • EU-based credit rating agency buried

    05/01/2013 12:12:21 PM PDT · by Olog-hai · 1 replies
    EU Observer ^ | 05/01/2013 @ 09:25 | Nikolaj Nielsen
    Plans to launch an independent European credit agency have fallen apart after it failed to generate enough interest in the business world. After three years of efforts, its co-founder renounced the plans, in an interview with the German daily Handelsblatt on Tuesday (30 April). “There were not enough investors,” Markus Krull, a former senior partner in the German-based consultancy firm Roland Berger, told the daily in an interview. … Krull envisioned an agency that would compete with the US-based equivalent Standard & Poor’s, Moody’s and Fitch. All three US-based agencies work on a for-profit basis that Krull wanted to challenge...
  • Moody's cuts UK credit rating one notch to Aa1

    02/22/2013 3:21:42 PM PST · by SeekAndFind · 2 replies
    Yahoo finance ^ | 02/22/2013
    NEW YORK (Reuters) - Moody's Investors Service on Friday cut the United Kingdom's credit rating to Aa1 from Aaa, citing weakness in the nation's medium-term growth outlook that it now expects to extend for a number of years. The outlook on the credit is stable, the firm said in a statement.
  • Payback for a Downgrade? (The Feds sue S&P but not Moody's for pre-crisis credit ratings)

    02/06/2013 6:59:20 AM PST · by SeekAndFind · 13 replies
    Now, this is awkward. One agency of the federal government is suing a company for fraud while another agency continues to endorse it. On Monday in Los Angeles, the Department of Justice sued Standard & Poor's and its parent McGraw-Hill MHP -0.25% for $5 billion. The claim is that S&P committed civil fraud when it issued high credit ratings on mortgage-related securities prior to the financial crisis of 2008. Sixteen states and the District of Columbia have piled on the suit. No doubt investors who relied on the opinions of S&P and the other big credit-rating agencies, Moody's and Fitch,...
  • Fitch warns on U.S. rating as debt ceiling fight looms

    01/15/2013 11:58:42 PM PST · by Olog-hai · 1 replies
    Reuters ^ | Tue Jan 15, 2013 1:36pm EST | Marc Jones, William James and Daniel Bases
    The United States faces a “material risk” of losing its AAA status if there is a repeat of the wrangling seen in 2011 over raising the country’s self-imposed debt ceiling, credit ratings firm Fitch said on Tuesday. The United States scraped up against its $16.4 trillion debt ceiling on Dec. 31 and is now employing special measures to meet its financial obligations. The Treasury Department said those steps could be exhausted by mid-February. Despite December’s deal by U.S. politicians to avoid the “fiscal cliff” of spending cuts and tax hikes, Fitch’s head of sovereign ratings, David Riley, said pressure on...
  • Govt to supervise credit reporting for first time

    07/16/2012 1:31:25 PM PDT · by BAW · 31 replies
    AP ^ | July 16, 2012
    The companies that determine Americans' credit scores are about to come under government oversight for the first time. The Consumer Financial Protection Bureau said Monday that it will start supervising the 30 largest firms that make up 94 percent of the industry. That includes the three big credit reporting firms: Equifax Inc., Experian and TransUnion. In remarks prepared for a speech Monday, Richard Cordray, the government agency's director, said that scorekeeping by credit bureaus plays such a large role in Americans' financial lives, it requires scrutiny.
  • 7 Reasons Americans Are So Complacent About Our Country's Impending Bankruptcy

    06/26/2012 3:56:44 AM PDT · by Kaslin · 146 replies
    Townhall.com ^ | June 26, 2012 | John Hawkins
    America is on track to go bankrupt. Just like Greece. The signs are all around us. We've lost our AAA credit rating. Trillion dollar deficits are the new normal. The Fed is buying 61% of our own debt. Barack Obama's 10 year budget will leave Americans with “more debt than has been accumulated by all previous Presidents in American history combined.” Nobody on the Left or Right seems to believe we'll ever pay off all of the money we owe. Life as we know it is very close to ending and yet Americans seem to be infected with a tragic...
  • Stocks fall off a cliff as Moody's downgrades 15 international banks

    06/22/2012 6:37:17 AM PDT · by SeekAndFind · 13 replies
    American Thinker ^ | 06/22/2012 | Rick Moran
    Moody's Investor Service cut the credit rating of the 6 largest US banks with international arms. In anticipation of this, and on general economic jitters, stocks tanked 251 points in the second worst day of trading this year. The downgrade of US banks reflects growing concern about the global economy and the exposore of US companies to the european debt crisis. Wall Street Journal: The Moody's Corp. unit reduced Morgan Stanley's rating to Baa1, which is three notches above the junk, or noninvestment grade, status that many bond buyers avoid. The move stands to add to the company's borrowing costs...
  • Sen. Tom Coburn: 'No doubt' US credit rating will be downgraded again

    05/24/2012 2:34:20 PM PDT · by SeekAndFind · 3 replies
    The Hill ^ | 05/23/2012 | Geneva Sands
    Sen. Tom Coburn (R-Okla.), a staunch fiscal conservative and Tea Party favorite, said he is certain that the United States will face another credit downgrade. "S&P's downgrade on us was right, matter of fact we're going to get another downgrade. I can tell you right now, you can have a great legal case for suing the rating agencies for not downgrading us again because we have not demonstrated the political will to solve the problems," said Coburn on CBS's midweek show "Face to Face," posted online Wednesday. The Oklahoma senator told CBS that he has "no doubt" that there will...
  • Egan-Jones cuts U.S. rating (based) on debt burden (AA -- now only 3rd highest rating)

    04/06/2012 9:16:39 AM PDT · by xzins · 41 replies
    Reuters ^ | Apr 6 | Richard Leong
    NEW YORK, April 6 (Reuters) - Egan-Jones Ratings downgraded the credit level of the United States as Washington has struggled to reduce the federal debt burden, which is projected to surpass the size of the country's economy. The independent rating firm, which issued the downgrade late Thursday, said its senior debt rating on the United States is now AA, its third highest rating, down one notch from AA-plus. It also maintained a negative watch on the world's biggest economy as the federal debt load could rise to $16.7 trillion at the end of 2012. U.S. gross domestic product, in the...
  • [READ!] HE PROMISED CHANGE IN WASHINGTON. THEN THE DEBT DEAL COLLAPSED. SO OBAMA CHANGED COURSE.

    03/19/2012 11:17:21 AM PDT · by Lazamataz · 56 replies · 1+ views
    Washington Post ^ | Mar 18 2012 | BY PETER WALLSTEN, LORI MONTGOMERY AND SCOTT WILSON
    What happened? Obama and his advisers have cast the collapse of the talks as a republican failure. Boehner, unable to deliver, stepped away from the deal, simple as that. But interviews with most of the central players in those talks— some ofwhomwere granted anonymity to speak about the secret negotiations — as well as a review of meeting notes, e-mails and the negotiating proposals that changed hands, offer a more complicated picture of the collapse. Obama, nervous about how to defend the emerging agreement to his own democratic base, upped the ante in a way that made it more difficult...
  • (EU Economic Commissioner Olli) Rehn slams “inconsistent” credit rating downgrades

    01/14/2012 9:24:33 AM PST · by Olog-hai · 3 replies
    EurActiv ^ | 14 January 2012 | Jeremy Fleming
    France and Austria lost their triple-A credit ratings yesterday evening—an ill-starred Friday 13th January—as seven other eurozone countries were also downgraded by US-based credit rating agency Standard & Poor’s (S&P). The move was described by European leaders as “political” and “inconsistent”, and China claimed the move cast doubt on the credibility of credit ratings agencies. The two triple-A economies were nudged down one notch by S&P, to AA+, but retain top AAA rating from the other two main ratings agencies, Moody's and Fitch. Two notches were struck from the ratings of Italy (to BBB+), Spain (to A), Cyprus (to BB+)...
  • Fitch Ratings: ‘Negative’ outlook for U.S. credit rating

    11/28/2011 4:30:49 PM PST · by ColdOne · 5 replies
    Politico ^ | 11/28/11 | JOSH BOAK
    Following the failure of the supercommittee, the U.S. government’s AAA credit rating was placed on a “negative outlook” Monday by Fitch Ratings, indicating a more than 50 percent chance the country gets slapped with another downgrade in the next two years. “By postponing the difficult decisions on tax and spending until after forthcoming congressional and presidential elections, the scale and pace of required deficit reduction will consequently be greater,” Fitch said in a statement. “Conversely, failure to reach agreement in 2013 on a credible deficit reduction plan and a worsening of the economic and fiscal outlook would likely result in...
  • Fitch Downgrades UBS, Puts Morgan Stanley, Bank of America, Goldman, etc. on Negative watch

    10/13/2011 2:17:19 PM PDT · by SeekAndFind · 6 replies
    Zero Hedge ^ | 10/12/2011 | Ty
    Since one can not get a downgrade of a bank during market hours for fears of springing who knows what circuit breakers, Fitch had to wait until just after the market close to release its latest market surprise which consisted of a "watch negative" announcement on the following banks Barclays, BNP Paribas, Credit Suisse, Deutsche Bank, Goldman, Morgan Stanley; others it just slashed some by multiple notches, among which: Landesbank Berlin IDR downgraded to A+ from AA-; Lloyds Banking Group IDR downgraded to A from AA-; RBS IDR downgraded to A from AA-; and most importantly UBS IDR downgraded...
  • Senate rejects the House stop-gap spending bill. Is a gov shutdown avoidable [Dems push rating down]

    09/23/2011 11:41:35 AM PDT · by NoLibZone · 7 replies
    Christian Science Monitor ^ | Sept 23 2011 | By Gail Russell Chaddock
    With near permanent brinksmanship the new normal, Congress headed into votes Friday to try to avert a government shutdown that is slated to occur on Oct. 1 if a continuing resolution bill is not passed. The Senate has voted to reject the temporary spending bill passed by the House late last night. With near permanent brinksmanship the new normal, Congress headed into votes Friday to try to avert a government shutdown that is slated to occur on Oct. 1 if a continuing resolution bill is not passed. In a surprise late night victory Thursday, House Republican leaders narrowly passed a...
  • Moody's cuts Japan rating, blames politics (to Aa3)

    08/23/2011 10:03:06 PM PDT · by TigerLikesRooster · 17 replies
    Reuters ^ | 08/24/11 | Rie Ishiguro
    Moody's cuts Japan rating, blames politics By Rie Ishiguro | Reuters TOKYO (Reuters) - Moody's Investors Service cut its rating on Japan's government debt by one notch to Aa3 on Wednesday, blaming a build-up of debt since the 2009 global recession and revolving-door political leadership that has hampered effective economic strategies. Japan is preparing to elect its sixth leader in five years to replace unpopular Prime Minister Naoto Kan, under fire for his handling of the response to a March tsunami and subsequent radiation crisis at a crippled nuclear power plant. The downgrade, while not out of the blue, served...
  • MOODY'S ANALYST BREAKS SILENCE: Says Ratings Agency Rotten To Core ...

    08/19/2011 3:31:48 PM PDT · by dynachrome · 14 replies
    Business Insider ^ | 8-19-11 | Henry Blodget
    highlights of Harrington's story below. Here are some key points: Moody's ratings often do not reflect its analysts' private conclusions. Instead, rating committees privately conclude that certain securities deserve certain ratings--but then vote with management to give the securities the higher ratings that issuer clients want. Moody's management and "compliance" officers do everything possible to make issuer clients happy--and they view analysts who do not do the same as "troublesome." Management employs a variety of tactics to transform these troublesome analysts into "pliant corporate citizens" who have Moody's best interests at heart. Moody's product managers participate in--and vote on--ratings decisions....
  • 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...
  • Breaking: Fitch Ratings backs US 'AAA' credit rating

    08/16/2011 6:52:04 AM PDT · by Hawk720 · 16 replies
    MSNBC ^ | 08/16/2011 | MSNBC News
    Fitch Ratings said Tuesday it will keep its rating on U.S. debt at the highest grade, AAA. It also says its outlook on the U.S. ratings is stable. The move gives the U.S. a reprieve after fellow ratings agency Standard & Poor's set off a tempest in the stock market last week by downgrading part of the U.S. debt rating from the highest grade to the second-highest grade. Fitch cited the United States' "flexible, diversified and wealthy economy," as well as its flexibility in monetary and exchange rates that allows it to adjust to marketplace shocks. The other main ratings...
  • Moodys lowers US economic outlook through 2012

    08/15/2011 8:41:44 PM PDT · by george76 · 22 replies
    AP ^ | August 15, 2011
    Moody's Analytics on Monday lowered its outlook for growth in the U.S. economy this year and next, saying it sees "significantly weaker" prospects for the economy than just a month ago as the country struggles to avoid another recession. The report ...cites the recent political wrangling over the U.S. debt ceiling and the revived debt crisis in Europe as leading factors in the bleaker economic picture. "The odds of a renewed recession over the next 12 months, already one in three, will increase if stock prices continue to fall
  • France Fights to Keep Its [Credit] Rating

    08/10/2011 2:46:34 PM PDT · by La Enchiladita · 5 replies
    Wall Street Journal ^ | Aug. 10, 2011 | Richard Barley
    France is still a triple-A rated country—but it has a fight on its hands to convince markets. President Nicolas Sarkozy broke off his vacation Wednesday and summoned ministers to Paris to discuss how to achieve "imperative" deficit-reduction targets. But that couldn't prevent a worrying slide in French bank shares, not least because France's fate is only partly in its own hands. The market has effectively downgraded French debt already. The spread between 10-year French government bonds and German bunds has widened to 0.85 percentage point this week, three times wider than a year ago. Some of this is down to...
  • Now THAT’s a Scary Thought

    08/10/2011 6:02:26 AM PDT · by Stoutcat · 15 replies
    Grand Rants ^ | 08-10-11 | Stoutcat
    You know, I’m beginning to have some frightening thoughts. For example, on Monday, as I simultaneously watched the President say nothing useful and the Dow plummet nearly 200 points, I found myself thinking that maybe Joe Biden wouldn’t make such a bad president after all. Yes, I know, good old open-mouth-insert-foot Joe, they guy who, while introducing wheelchair-bound Sen. Chuck Graham, called to him to “[S]tand up, Chuck, let the people see you!” The same Veep who was caught on mike during the Obamacare signing ceremony telling the President, “This is a big f*ing deal!” The very same gentleman who...
  • Sarah Palin: Conquering the Storm

    08/08/2011 4:20:47 PM PDT · by Lou Budvis · 154 replies
    Facebook ^ | 8/8/11 | Sarah Palin
    In the coming days we’ll sort through the repercussions of S&P’s downgrade of our credit rating, including concerns about the impact a potential interest rate increase would have on our ability to service our suffocating $14.5 trillion debt. I’m surprised that so many people seem surprised by S&P’s decision. Weren’t people paying attention over the last year or so when we were getting warning after warning from various credit rating agencies that this was coming? I’ve been writing and speaking about it myself for quite some time.
  • White House: Downgrade Doesn’t Matter, Unless It’s The Tea Party’s Fault

    08/08/2011 2:45:22 PM PDT · by NoLibZone · 18 replies
    Fox News ^ | August 8 2011 | By Chris Stirewalt
    Power Play White House: Downgrade Doesn’t Matter, Unless It’s The Tea Party’s Fault By Chris Stirewalt Published August 08, 2011 | FoxNews.com * Print * Email * Share * Comments * * * * Text Size Team Obama Downplays Downgrade, But Blames Tea Party Too “Look at the history of this – the fact of the matter is that this is essentially a Tea Party downgrade. The Tea Party brought us to the brink of a default.” -- David Axelrod, top political consultant to President Obama, in an appearance on “Face the Nation.” The decision by Standard and Poor’s to...
  • Obamageddon, Barackalypse Now! Bam is "Debt Man Walking" in 2012

    08/08/2011 1:43:36 PM PDT · by Evil Slayer · 18 replies
    RushLimbaugh.com ^ | 8/8/11 | Rush Limbaugh
    BEGIN TRANSCRIPT RUSH: Does anybody now doubt that this is on purpose? I mean, after all, Barack Obama inherits a AAA credit rating from George W. Bush, and look what he does to it. Obama is always running around complaining and whining and moaning about all that he inherited from George W. Bush. Well, he inherited a AAA credit rating, an unemployment rate of 5.7%. Does anybody doubt that this is on purpose? Well, look, my credit rating doesn't suck. There are a lot of individual Americans whose credit ratings aren't in trouble. The United States has never been in...
  • Obama says U.S. is still a AAA country

    08/08/2011 11:51:19 AM PDT · by Sub-Driver · 76 replies
    Obama says U.S. is still a AAA country Photo 2:12pm EDT WASHINGTON (Reuters) - President Barack Obama on Monday blamed a downgrade in the United States' credit rating on political gridlock in Washington and said he would offer some recommendations on how to reduce federal deficits. Obama said in a White House appearance that he hopes the Standard and Poor's downgrade of U.S. debt to AA-plus from AAA will give lawmakers a new sense of urgency to tackle deficit spending and said he did not believe the reductions could be carried out with spending cuts alone.
  • Rasmussen Consumer Index: Consumer Confidence Falls After Credit Downgrade (70% -- economy worse)

    08/08/2011 6:08:23 AM PDT · by markomalley · 11 replies
    Rasmussen Reports ^ | Monday, August 08, 2011
    The Rasmussen Consumer Index, which measures the economic confidence of consumers on a daily basis, fell another point on Monday. At 61.5, consumer confidence is down three points since Standard & Poor’s downgraded the federal government’s credit rating. Seventy percent (70%) now believe that the economy is getting worse. That’s up from 45% at the beginning of 2011. Data for these updates is derived from a series of nightly telephone interviews and reported on a three-day rolling average basis. As a result, today’s update includes two days of data collection after Standard & Poor’s announced their decision to downgrade 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 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...
  • 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...
  • STANDARD AND POOR'S DOWNGRADES US CREDIT RATING TO AA+

    08/06/2011 10:49:04 AM PDT · by NationalSpotlight · 10 replies
    National Spotlight ^ | 8/6/11 | Derek Petrella
    Everyone knew this one was coming. Finally, it happened. For the first time in American history, Standard and Poor's (S&P), one of the leading companies in financial research and analysis on stocks and bonds, downgraded the US from a top credit rating of AAA to AA. This means that US Treasury debt is no longer considered the safest in the world. There are thirteen countries that have a AAA credit rating: Australia, Canada, Denmark, Germany, the Netherlands, Norway, Singapore, Sweden, Switzerland, Austria, Finland, France, and the United Kingdom.S&P predicts that it will take a long time for the US to...
  • The Lights Are Still On Washington! You Lie

    08/06/2011 5:09:33 AM PDT · by NoNAIS
    The PPJ Gazette ^ | August 5, 2011 | Lynn Swearingen
    "Readers – take a look around you. If you are like me, the electricity is still on, a nice bottle of Vino resides next to the Roma’s in the ‘fridge, and not much has changed. True – I might raise my hand a few more times at Auction tomorrow to purchase some junk silver, but hey – I’d most likely do that anyway. The truth is, Washington – You Lie!"
  • 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.
  • 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....