Free Republic 3rd Quarter Fundraising Target: $85,000 Receipts & Pledges to-date: $30,402
35%  
Woo hoo!! And the first 35% is in!! Thank you all very much!!

Keyword: sp

Brevity: Headers | « Text »
  • Do We Really Need the Rating Agencies?

    06/16/2014 6:33:34 AM PDT · by SeekAndFind · 3 replies
    RCM ^ | 06/16/2014 | By Desmond Lachman
    One has to be struck by the recent slew of rating agency credit upgrades for European sovereign bonds. Since the start of the year, undaunted by the marked deterioration in European political and economic fundamentals, the rating agencies have sheepishly followed the market's more favorable attitude towards Europe by providing the European countries with improved bond ratings. This has to raise question anew as to whether the rating agencies serve any useful purpose. Similarly it has to raise questions as to whether the rating agencies continue to amplify market movements in a pro-cyclical manner. Since the start of the year,...
  • Coppock Market Message: Get Out And Stay Out - Check Back In Q1 2015

    05/05/2014 10:53:26 AM PDT · by blam · 6 replies
    Zero Hedge ^ | 5-5-2014 | Tyler Durden
    Coppock Market Message: Get Out And Stay Out - Check Back In Q1 2015 Tyler Durden 05/05/2014 12:44 -0400 Submitted by Charles Hugh-Smith of OfTwoMinds blog, This chart's value is in posing an if-then question: if today's S&P 500 follows these patterns, what will our reaction be? Longtime contributor B.C. recently submitted a chart that combines two interesting market tools: the Coppock Curve and historical analogies. Coppock called his technical invention the Very Long Term (VLT) Momentum indicator, and the so-called "killer wave" is a top followed by a second lower peak. This chart shows the Coppock Curve for the...
  • Furious Russia, Downgraded Just Above Junk By S&P, Proposes "Scorched Earth" Retaliation on NATO

    04/25/2014 7:30:37 AM PDT · by SeekAndFind · 19 replies
    Zero Hedge ^ | 04/25/2014 | Tyler Durden
    Cyprus and Russia - what's the difference (aside from the fact that the former was a money laundering offshore center of the latter until last year of course)? If you said one is a lackey to statist, selfish banker interests, and after having its economy thoroughly destroyed by the great doomed European sociopolitical (and pathological) experiment, came crawling back to its Eurozone masters, while the other couldn't care one bit about Pax Petrodollariana and the global central bank cabal, you are right. In which case it will also be clear why a few hours ago that joke of a...
  • What Did Obama Tell Geithner about S&P?

    02/25/2014 6:22:42 AM PST · by afraidfortherepublic · 10 replies
    Wall Street Journal ^ | 2-25-24 | James Freeman
    Last month we wrote about the threatening phone call from then-Secretary of the Treasury Timothy Geithner to the head of the parent company of Standard & Poor's after S&P downgraded the U.S. credit rating in 2011. Now we learn that Mr. Geithner placed the call to McGraw Hill Chairman and CEO Harold McGraw III just five minutes after leaving an Oval Office meeting with President Barack Obama. This detail, drawing on information contained in Mr. Geithner's public schedule, was included late yesterday in a filing by S&P in federal court in the Central District of California. The Department of Justice...
  • S&P downgrades Puerto Rico's credit to junk status

    02/05/2014 3:46:29 AM PST · by cll · 10 replies
    Caribbean Business ^ | 2/04/2014 | Kevin Mead
    Standard & Poor’s cut Puerto Rico’s credit rating by one notch on Tuesday, becoming the first of the Wall Street credit ratings agencies to downgrade the debt to junk level. S&P lowered the commonwealth government’s general obligation rating to ‘BB+’ from ‘BBB-’. At the same time, it downgraded commonwealth appropriation secured debt and Employee Retirement System (ERS)debt to ‘BB’. All of S&P’ ratings remain on CreditWatch with negative implications. “My administration isn’t to blame for this. But it is my responsibility to get us out of it,” Gov. Alejandro García Padilla said during a hastily convened press conference at La...
  • S&P downgrades European Union's credit rating

    12/20/2013 6:35:42 AM PST · by Starboard · 6 replies
    http://www.marketplace.org/ ^ | December 20, 2013 | Nigel Cassidy, Marketplace Morning Report
    European leaders meeting in Brussels for a summit on banking rules got some bad news this morning. The Standard and Poor's credit rating agency announced that it is stripping the entire European Union of its AAA rating.
  • S&P near record after Larry Summers' withdrawal

    09/17/2013 5:32:12 AM PDT · by SeekAndFind · 4 replies
    Money ^ | 09/17/2013
    The S&P 500 is once again close to a record high, as investors welcomed the withdrawal of Larry Summers from the race to become next chairman of the Federal Reserve. [SNIP] Investors are excited at the prospect of top contender Janet Yellen taking over from current Fed chairman Ben Bernanke, since she is widely expected to pursue a similar policy of stimulating the economy to bring the unemployment rate down. Yellen is currently the Fed's vice chair.
  • S&P, Dow hit records as earnings roll out

    07/18/2013 8:54:50 AM PDT · by SeekAndFind · 1 replies
    Reuters via Yahoo Finance ^ | 07/18/2013 | Leah Schnurr
    NEW YORK (Reuters) - The Dow and S&P 500 scaled fresh heights on Thursday, boosted by better than expected results from Morgan Stanley and United Health, while investors looked to a second day of congressional testimony by Federal Reserve Chairman Ben Bernanke. Shares of Morgan Stanley (MS) surged 4.1 percent to $27.64 after the bank reported stronger-than-expected adjusted quarterly profit as revenue grew in all its major businesses. A jump in shares of UnitedHealth (UNH.N) helped boost the Dow and other health insurers. UnitedHealth was up 5.7 percent at $70.03 after the company's results beat expectations, while the S&P health...
  • Stocks Hit All-Time Highs: S&P Breaks New Record Above 1,600, Dow Above 15,000

    05/03/2013 8:12:00 AM PDT · by SeekAndFind · 20 replies
    An unexpectedly strong U.S. jobs report pushed stock markets higher on Friday as investors welcomed signs that the world's largest economy is not slowing down as quickly as some had feared.
  • Find The Hidden Economic Recovery - Hint: Its Bi-modal!

    02/16/2013 5:57:02 PM PST · by whitedog57 · 7 replies
    Confounded Interest ^ | 02/16/2013 | Anthony B. Sanders
    I was watching former Fed Chairman Alan Greenspan on CNBC’s Closing Bell with Maria Bartiromo on Friday. Greenspan seemed to be saying that the stock market is what is important, not the underlying economy. Since the S&P 500 bottomed on 2009-07-07, it has risen from 881.03 to 1521.38 on Friday. That is a 73% increase. But please find the hidden economic recovery in the data supporting this miraculous stock market recovery. Industrial production in YoY terms is displaying a disturbing down trend in growth. U6 unemployment is shaped like a sea serpent and still remains at 14.4%, far too high...
  • Obama's S&P Suit Smacks Of Vendetta

    02/09/2013 5:45:30 AM PST · by SeekAndFind · 20 replies
    IBD ^ | 02/09/2013 | Paul Sperry
    Staring at a another debt ceiling crisis, the president's punishing the one credit rating agency that dared downgrade U.S. debt in the last crisis. And Wall Street analysts say the timing's no coincidence. Just weeks away from the next debt-limit showdown, the Justice Department filed a whopping $5 billion lawsuit against Standard & Poor's for alleged fraud. The case appears weak, but the message it sends S&P and the other independent rating agencies is clear: Don't downgrade anymore. "It's a foregone conclusion that no more downgrades will be coming," said Euro Pacific Capital CEO Peter Schiff. Curiously, Attorney General Eric...
  • DoJ lawsuit against S&P even sillier than first thought (Banks got duped on their own offerings?)

    02/08/2013 7:56:06 AM PST · by SeekAndFind · 7 replies
    Hotair ^ | 02/08/2013 | Ed Morrissey
    I wrote Tuesday about the hypocrisy and perhaps vindictiveness of the Department of Justice’s lawsuit against ratings agency Standard & Poor’s for rating toxic mortgage-backed securities and their derivatives highly before the housing bubble popped. Apparently I wasn’t tough enough on … the DoJ. Bloomberg’s Jonathan Weil explains why the lawsuit isn’t just ill-considered, but downright silly: Oh, the poor suckers at Citigroup Inc. and Bank of America Corp., fooled about the stench of their own garbage by those sneaky credit raters at Standard & Poor’s.The U.S. Justice Department made some peculiar allegations in its lawsuit this week against S&P...
  • 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,...
  • Spain downgraded by S&P (heading towards "junk" status)

    10/10/2012 4:32:09 PM PDT · by Signalman · 2 replies
    CNNMoney ^ | 10/10/2012 | Ben Rooney
    Standard & Poor's lowered its credit rating for Spain on Wednesday, in a move that could complicate Madrid's effort to avoid requesting a financial bailout. S&P cut Spain's long-term credit rating two notches to "BBB-" from "BBB+," the ratings agency said in a statement. It also lowered the nation's short-term rating and said the long-term outlook for Spain is negative, meaning it could lower the rate further. The move reflects the risk of "increasing social discontent" as the Spanish economy slips deeper into recession, according to S&P. It also warned of "rising tensions" between the central government and Spain's semi-autonomous...
  • United States of America Long-Term Rating Lowered To 'AA+' (August 2011)

    08/30/2012 9:05:26 AM PDT · by edwinland · 3 replies
    Standard and Poors ^ | 05-Aug-201 | S&P
    TORONTO (Standard & Poor's) Aug. 5, 2011--Standard & Poor's Ratings Services said today that it lowered its long-term sovereign credit rating on the United States of America to 'AA+' from 'AAA'. ... We lowered our long-term rating on the U.S. because we believe that the prolonged controversy over raising the statutory debt ceiling and the related fiscal policy debate indicate that further near-term progress containing the growth in public spending, especially on entitlements, or on reaching an agreement on raising revenues is less likely than we previously assumed and will remain a contentious and fitful process. We also believe that...
  • The Best Economic Indicator In The World Continues To Be Dead On

    07/08/2012 9:29:56 AM PDT · by blam · 9 replies
    TBI ^ | 7-8-2012 | Joe Weisenthal
    The Best Economic Indicator In The World Continues To Be Dead On Joe Weisenthal Jul. 8, 2012, 7:15 AM We love it: Initial jobless claims vs. the S&P 500. The two lines continue to move very nicely with each other, even lately. Note that the chart isn't updated with Friday's S&P move, which was lower... The reason we like this chart is that for one thing, it's a pretty correlation. But beyond that, it's a reminder of what's driving this market. Fundamentals. There haven't been many periods where the two lines separated much, and where they did, it was always...
  • Goldman Sachs says sell the S&P 500

    06/21/2012 1:10:21 PM PDT · by Signalman · 2 replies
    CNNMoney ^ | 6/21/2012 | Maureen Farrell
    Goldman Sachs' (GS) analysts told investors to sell the S&P 500 (SPX) Thursday and boy did they ever. The S&P 500, which was already down 1%, dropped even further as Goldman's report bounced around email inboxes. Goldman's analysts said they could see the S&P 500 drop to 1,285, roughly 5% below its current levels. Heading into the close, the broad index was down more than 2% at 1,326. Analysts Noah Weisberger and Aleksandar Timcenko cited the sharp drop in the Philly Fed index Thursday as just another piece of evidence that the ephemeral recovery has lost steam. "We now think,...
  • Spain downgraded by S&P

    04/26/2012 4:31:00 PM PDT · by what's up · 5 replies
    CNN Money ^ | August 26, 2012 | James O'Toole
    Standard & Poor's downgraded Spain's credit rating by two notches on Thursday, the latest sign Europe's debt crisis is once again gathering force. S&P said the downgrade, from A to BBB+, "reflects our view of mounting risks to Spain's net general government debt as a share of GDP in light of the contracting economy."
  • (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+)...
  • IT'S OFFICIAL: S&P ANNOUNCES MASS DOWNGRADE OF EUROZONE COUNTRIES

    01/13/2012 2:25:57 PM PST · by SeekAndFind · 26 replies
    Business Insider ^ | 01/13/2012 | Eric Platt
    Standard & Poor's has officially cut the long-term credit rating of France and eight other Eurozone nations. Italy, Portugal, Cyprus, and Spain saw two notch downgrades, while Austria, France, Malta, Slovakia, and Slovenia were dropped one level. The ratings agency reiterated its ratings on Belgium, Estonia, Finland, Germany, Ireland, Luxembourg, and the Netherlands. Standard & Poor's has taken all 16 nations off of CreditWatch, which indicates a coming adjustment. However, the company has left 14 of the countries, including Italy and France, on negative outlook. Slovakia and Germany were the only two to move to stable outlooks. The move by...
  • Five European Nations to Be Downgraded by S&P: Report

    01/13/2012 12:35:50 PM PST · by Signalman · 3 replies
    CNBC ^ | 1/13/2012 | By: Antonia van de Velde
    Standard & Poor's will cut the credit ratings of Italy, Spain and Portugal by two notches and downgrade France and Austria by one notch, a French newspaper said Friday, without citing its sources. The newspaper, Les Echos, said that S&P would spare Germany, the Netherlands, Finland and Luxembourg in its long-awaited adjustment of euro zone sovereign ratings. It said the announcement would come at around 4:30 pm ET, after the US stock market has closed. "Remain alert tonight when U.S. markets close," one euro zone source told Reuters. US stocks slumped in reaction, though were well off their lows, while...
  • Report: S&P to place ALL 17 Euro nations on downgrade warning

    12/05/2011 1:53:56 PM PST · by SeekAndFind · 7 replies
    Hotair ^ | 12/05/2011 | Tina Korbe
    Ahead of a planned summit of European Union leaders, the credit rating agency Standard & Poor’s has put all 17 Euro nations on review for a credit downgrade, which means France and Germany could lose the pristine AAA ratings they presently enjoy, Bloomberg News is reporting. The euro area’s six AAA rated countries are among the nations to be placed on a negative outlook pending the result of a summit of European Union leaders on Dec. 9, the people said today on condition of anonymity because the decision has yet to be announced. The euro reversed its gains and U.S. Treasuries rose...
  • Bank of America stock nearing $5 danger zone

    11/29/2011 4:49:30 PM PST · by rabscuttle385 · 23 replies
    CNN Money ^ | 2011-11-29 | Maureen Farrell
    NEW YORK (CNNMoney) -- Another trading day and another low for Bank of America's stock. Shares of Bank of America dropped more than 3% Tuesday, hitting a new 52-week low of $5.03 -- its lowest level since March 12, 2009. After the close of trading Tuesday, Bank of America was one of 37 financial institutions downgraded by S&P. Beyond the S&P downgrade, trading could become even more complicated in Bank of America's stock, if it falls below $5. Under that threshold, many broker-dealers will not allow investors to buy or short a stock on margin, according to a spokesperson for...
  • S&P downgrades 37 global banks

    11/29/2011 2:21:33 PM PST · by Typical_Whitey · 42 replies
    fxstreet.com ^ | 11/29/11 | FXstreet
    FXstreet.com (Barcelona) - S&P rating agency has just downgraded 37 global banks. Goldman, BofA, Citigroup, Morgan Stanley, BNY Mellon are amongst the cuts based on a new methodology. Japanese and UK banks cut or outlook lowered as well.
  • BANK DOWNGRADE RAMPAGE: Goldman, BOA, Morgan, Wells Fargo, And Citigroup Just Got Cut By S&P

    11/29/2011 2:13:06 PM PST · by blam · 5 replies
    TBI ^ | 11-29-2011 | Simone Foxman
    BANK DOWNGRADE RAMPAGE: Goldman, Bank Of America, Morgan Stanley, Wells Fargo, And Citigroup Just Got Cut By S&P Simone Foxman Nov. 29, 2011, 4:48 PM Standard & Poor's ratings service just cut the ratings of Goldman Sachs, Bank of America, Morgan Stanley and Citigroup from A to A-, according to Bloomberg. Wells Fargo was also cut from AA- to A+. The agency gave both Wells Fargo and Goldman Sachs have a negative outlook. Those cuts were part of more than 37 ratings reviewed by the agency. Bloomberg says those are dependent upon "criteria change[s]" that were published on November 9....
  • S&P says mistakenly announced French downgrade

    11/10/2011 5:31:33 PM PST · by TigerLikesRooster · 13 replies
    AFP ^ | 11/11/11
    S&P says mistakenly announced French downgrade (AFP) – 7 hours ago PARIS — Ratings agency Standard and Poor's said Thursday that it had mistakenly announced to some clients a downgrade of France's top "AAA" credit rating, amid speculation of just such a move. "As a result of a technical error, a message was automatically disseminated today to some subscribers of S&P's Global Credit Portal suggesting that France's credit rating had been changed," S&P said in a statement. "This is not the case: the ratings on Republic of France remain 'AAA/A-1+' with a stable outlook and this incident is not related...
  • S&P Downgrades Spain One Notch, Citing Economic Woes

    10/13/2011 4:49:06 PM PDT · by TigerLikesRooster · 7 replies
    WSJ ^ | 10/13/11
    S&P Downgrades Spain One Notch, Citing Economic Woes OCTOBER 13, 2011, 7:13 P.M. ET DOW JONES NEWSWIRES Standard & Poor's Ratings Services on Thursday downgraded Spain a notch, citing increasingly unpredictable financing conditions that could squeeze a private sector already pressured by lackluster economic growth. The ratings cut is the latest blow to a large European sovereign's credit status after S&P last month downgraded Italy a notch, citing many of the same problems afflicting euro-zone economies. S&P expects the Spanish economy will grow at about 1% in real terms next year, a drop from the 1.5% pace it forecast in...
  • 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...
  • ALBERT EDWARDS: Everyone Is Still Way Too Optimistic, And The S&P Is Going To Lose 65%

    09/30/2011 4:26:17 AM PDT · by blam · 8 replies · 1+ views
    TBI ^ | 9-30-2011 | Joe Weisenthal
    ALBERT EDWARDS: Everyone Is Still Way Too Optimistic, And The S&P Is Going To Lose 65% Joe Weisenthal Sep. 30, 2011, 6:23 AM BREAKING: Societe Generale's uber-bearish strategist Albert Edwards is still... bearish. Despite the big selloff, he's still convinced that everyone is too optimistic. Ultimately, he sees the market losing about 65% of its value from here. It's simple: We still hear a lot of nonsense about equity valuations and I certainly don't like feeling left out. Our belief that US equities are still overvalued is based on Tobin's Q, Shiller, Graham & Dodd's and cyclically adjusted PE measures....
  • 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...
  • S&P downgrades Italy as Greek austerity row forces global stock markets lower

    09/19/2011 4:03:20 PM PDT · by TigerLikesRooster · 10 replies
    Telegraph ^ | 09/19/11
    S&P downgrades Italy as Greek austerity row forces global stock markets lower Credit rating agency Standard & Poor's downgraded Italy late on Monday night, on a day when panic gripped global markets as a fresh showdown over Greece renewed fears that the eurozone will be plunged into crisis. The rating for Italy, which has Europe’s second-largest debt load, was lowered from A+, S&P said in a statement. The agency said Italythe country's net general government debt is the highest among A-rated sovereigns, and now expects it to peak later and at a higher level than it previously anticipated. “In our...
  • S&P chief resigns; hedge fund seeks parent split

    08/23/2011 10:45:08 AM PDT · by Nachum · 4 replies
    Associated Press ^ | 8/23/11 | CHRISTINA REXRODE
    NEW YORK (AP) -- Standard & Poor's wild month continues. The president of S&P is stepping down just two weeks after the rating agency stripped the United States of its AAA credit rating. At the same time, an activist hedge fund is calling for S&P's parent to break into four separate companies to unlock more value for shareholders. McGraw-Hill Cos., the parent company, said that the resignation of Deven Sharma was not related to Jana Partners' break-up proposal or to S&P's polarizing decision to downgrade its rating on U.S. debt. McGraw-Hill named Citibank's chief operating officer, Douglas Peterson, to the...
  • Incompetence Can Save Us

    08/20/2011 11:43:03 AM PDT · by Kaslin · 6 replies
    Townhall.com ^ | August 20, 2011 | Mike Shedlock
    Today I am going to do something different, openly praise blatant incompetence. I will list my reasons later but first let me sing the praises of sheer incompetence at Moody's, Fitch, and the S&P (the big 3 rating agencies). Downgrade of U.S. Debt Long Overdue Many are in shock that the S&P downgraded debt of the US from AAA. Not me. It was long overdue. However, the S&P proved it was incompetent in the way it made the downgrade. Pray tell how can a rating agency make a $2 trillion error? The answer is obvious: sheer incompetence. The irony is...
  • Winning The PR War: Fiscal Conservative Messaging Strategies

    08/16/2011 7:25:56 AM PDT · by gjmerits · 4 replies
    Wolves of Liberty ^ | 8/16/2011 | GJ Merits
    The entire concept of winning the PR war against big government Socialism comes down to the concept of what is popularly called a meme. Just like genes, memes are capable of self-replicating, mutating and responding to targeted pressure. Memes also evolve by means of natural selection via the processes of mutation, variation, and competition. In short, strong memes can reproduce from mind to mind, will weak memes become extinct. The Democrats are very effective at using the meme idea. With most media from newspapers to magazines to cable news leaning left of center to hard left, the media of transmission...
  • SEC investigating S&P's downgrade of U.S. debt: report

    08/12/2011 5:44:48 AM PDT · by mlocher · 20 replies
    Reuters via Fidelity.com ^ | August 12, 2011 | Reuters
    The U.S. Securities and Exchange Commission (SEC) has asked rating agency Standard & Poor's (S&P) to disclose which employees knew of its decision to downgrade U.S. debt before it was announced last week, the Financial Times said, citing people familiar with the matter. SEC's move is part of a preliminary examination into potential insider trading, the FT said. The inquiry was made by the SEC's examination staff, which has oversight of credit rating firms, one person familiar with the matter told the newspaper. However, the securities regulator is not aware of a leak from an S&P insider, nor was it...
  • In All Seriousness, What If Barack Obama Is Right? (Redstate.com)

    08/09/2011 9:29:38 PM PDT · by lbryce · 48 replies
    RedState.com ^ | August 8, 2011 | Erik Erikson
    Seriously. All you people on left and right, suspend your disbelief for one minute. Seriously. What if Barack Obama was right and S&P just got it wrong. Here’s what I’m hearing and it gives credence to this theory. S&P, I’m told, began telling some of its clients about the downgrade on Friday morning. That’s why the market was so screwed up on Friday. By Friday afternoon, the Treasury Department told S&P it had made a $2 trillion math mistake. But S&P had already told its clients about the downgrade. So it couldn’t walk it back now without a major loss...
  • CORRECT: Municipal Bonds Weaken As S&P Announces Widespread Downgrades(11,000+ muni bonds?)

    08/09/2011 8:35:21 PM PDT · by TigerLikesRooster · 9 replies
    WSJ ^ | 08/09/11 | Michael Aneiro
    CORRECT: Municipal Bonds Weaken As S&P Announces Widespread Downgrades By Michael Aneiro Of DOW JONES NEWSWIRES NEW YORK (Dow Jones)--The municipal bond market weakened Tuesday after Standard and Poor's downgraded more than 11,000 public finance issues to keep them in line with its newly lowered rating on federal government debt. S&P said it had lowered to double-A plus from triple-A the ratings on certain public finance debt issues linked to the federal government, matching the downgrade it applied to U.S. government debt last Friday. While the number of issues affected is large, it covers less than 1% of the estimated...
  • If Not For Tea Party Movement, US Would Be Rated BBB

    08/09/2011 12:38:12 PM PDT · by conservativeBC
    Conservative Blogs Central ^ | 8/09/2011 | Cyrus
    The godfather of the Tea Party Movement is CNBC Financial Editor Rick Santelli. The Tea Party Movement consist of Republicans, Democrats (smart ones), and Independents working together to create the narrative in American politics. Its orginal purpose was to pursue Rick Santelli mantra to stop wasteful government spending. Under Obama, the out-of-control spending is ruining America. It has gone over the cliff when Moody downgraded our credit rating. Hence, the Tea Party keeps Washington in check. Liberals and the GOP Establishment are unable to contain the The Tea Party Movement. The movement has spead to all corners of America. I...
  • Petty, Predictable, Partisan Presidential Politics.

    08/09/2011 10:02:55 AM PDT · by Lexluthor69
    The Silent Majority ^ | 08-09-11 | Southernman
    Alliteration aside… Given the recent downgrade of the United States credit rating by S&P one would have expected our exalted leader to use the bully pulpit to infuse some confidence into an already battered economy. Perhaps to speak directly to the problem, spending, and provide a coherent path forward. Of course this is President Obama and such a thing seems to be beyond his scope of expertise. What we got instead was the same old trite and tired finger pointing and hollow platitudes. The President scarcely made it through his first sentence before he abdicated his responsibility for the current...
  • Surprise: Senate Banking Committee to probe S&P’s decision to downgrade

    08/08/2011 8:08:43 PM PDT · by SeekAndFind · 21 replies
    Hotair ^ | 08/08/2011 | Allahpundit
    Alternate headline: “Feds leave dead fish on S&P’s doorstep.” And if you think this is shady, check out how Italy handled its own threat of a downgrade from S&P. Good lord. What happens if they downgrade Egypt? Does David Beers end up in the cage with Mubarak?Note to Fitch from the Senate Banking Committee: Choose wisely. Following S&P’s Friday night decision to reduce the nation’s credit standing from AAA to AA+, the panel has begun gathering information about the downgrade, according to a committee aide. Reuters first reported the committee’s interest in the downgrade.The unprecedented downgrade of the nation’s debt...
  • Sarah Palin grades Obama on the downgrade: 'Disgraceful and embarrassing'

    08/08/2011 5:49:37 PM PDT · by Bigtigermike · 11 replies
    LATimes ^ | Monday August 8, 2011 | Andrew Malcolm
    <p>It is a disgraceful and embarrassing situation when the United States finds itself justifiably chastised in the same tone normally reserved for near-bankrupt economies.</p> <p>Be wary of the efforts President Obama makes to “fix” the debt problem. The more he tries to “fix” things, the worse they get because his “solutions” always involve spending more, taxing more, growing government, and increasing debt.</p>
  • 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.
  • Palin on downgrade: I told you so

    08/08/2011 5:41:56 PM PDT · by Bigtigermike · 28 replies
    CNN ^ | Monday August 8, 2011 | Rebecca Stewart
    (CNN)-Former Alaska Gov. Sarah Palin took to her Facebook page Monday to warn Americans about President Barack Obama’s plan to improve the nation’s economy. “Be wary of the efforts President Obama makes to ‘fix’ the debt problem,” she said. “The more he tries to ‘fix’ things, the worse they get.” A “surprised” Palin sounded off on reaction to the nation’s credit rating downgrade and chided “so-called smart people” who doubted her forecast of economic repercussions. “I’m surprised that so many people seem surprised by S&P’s decision,” Palin wrote. “Weren’t people paying attention over the last year or so when we...
  • S&P Seen Surrendering to Tea Party -(Tea Party Hit Piece on Bloomberg Terminals)

    08/08/2011 2:48:02 PM PDT · by GreaterSwiss · 51 replies
    Bloomberg Terminal
    Makes me want to puke..
  • Reagan took the Soviet Union down to its knees but it took Barack Obama to bring the US to its knees

    08/08/2011 2:37:11 PM PDT · by Starman417 · 5 replies
    Flopping Aces ^ | 08-08-11 | DrJohn
    Back in April Timmy Geithner said there was no chance that the US credit rating would take a hit. Treasury Secretary Tim Geithner said Tuesday there is "no risk" the U.S. will lose its top credit rating amid a new analysis that revised its outlook on American debt to "negative." Geithner took to the airwaves of financial news networks to push back against a report Monday by Standard & Poor's that lowered its outlook on U.S. debt to "negative," reflecting political uncertainty over whether lawmakers will reach an agreement to address long-term debt. There is no chance that the U.S....
  • 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...
  • So Why Is The Initial Reaction Of The S&P Downgrade of our Debt For Treasury Prices To Go Up?

    08/08/2011 12:58:57 PM PDT · by SeekAndFind · 7 replies
    Zero Hedge ^ | 08/08/2011 | Tom McCormick of Frost National
    The S&P downgrade was not as much a comment on the numbers of credit service as a comment on the political process. The political process is about confronting the probability of a hyper-inflationary collapse of our currency if fiscal irresponsibility, entitlement spending and bank bailout mentality are not addressed. If the credit rating firms had continued the charade of AAA quality, it would merely enable the not sustainable march toward hyper-inflation. Ultimately, the S&P downgrade of Treasuries is a downgrade of all dollar denominated assets. If we can print dollars to pay Treasury debt, it is the currency that is...
  • Ryan: 'Not surprised' by S&P downgrade

    08/08/2011 11:33:16 AM PDT · by americanophile · 4 replies
    The Hill ^ | 08/07/11 | Meghashyam Mali
    House Budget Committee Chairman Rep. Paul Ryan (R-Wisc.) said he was "not ver surprised" by S&P's decision to downgrade the nation’s credit rating and said he would serve on the debt 'supercommittee' if chosen by Speaker John Boehner (R-Ohio). "I'm not very surprised of this downgrade. We more or less saw this coming because we're on the wrong fiscal path," Ryan said on Fox News Sunday. He said the decision was a warning shot that "Washington has not gotten its fiscal house in order." Ryan also expressed concern that a rise in interest rates would add to the deficit. "If...
  • Michael Moore calls on Obama to arrest head of S&P

    08/08/2011 10:26:45 AM PDT · by ccj85 · 39 replies
    Leave it Michael Moore: “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,” Moore profoundly tweeted Monday. Read the full article: http://thedc.com/rk60eL
  • Live Thread: POTUS to speak to country at 1730 ZULU concerning S&P downgrade

    08/08/2011 8:31:48 AM PDT · by DCBryan1 · 794 replies · 2+ views
    08 AUG 11 | dcbryan1
    CNBC just broke in and told the audience that the President has requested airtime and will speak to the nation at 1300hrs EST (12 noon central, 10 AM PST) on the US national debt downgrade.Developing...