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S&P Downgrade Heralds A New Financial Era For The United States

Treasury Department

First Posted: 08/06/11 12:36 PM ET Updated: 10/06/11 06:12 AM ET


There will be endless debate on whether S&P, the rating agency, was justified in stripping America of its AAA rating and — adding insult to injury — even attaching a negative outlook to the new AA+ rating. But this historic action has now taken place, and the global system must adjust. There are consequences, uncertainties, and a silver lining.

Read the whole story: PIMCO

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Filed by Chris Gentilviso  |