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S&P Hits Record High

Reuters | Posted 09.18.2013 | Business

NEW YORK, Sept 18 (Reuters) - The S&P 500 index hit a record high on Wednesday after the Federal Reserve said it would continue buying bonds at an $85...

The Downgrades: Forget the 1%. It's the 9%, Stupid!

Adam Levin | Posted 08.27.2012 | Politics
Adam Levin

The downgrades in the credit ratings of major banks mean very little to the average consumer, but the downgrade in the credibility of Congress and the mess we have made of our financial regulatory structure should give us all pause.

Bad News For Spanish Banks

Reuters | Posted 07.25.2012 | Business

(Adds details and background) NEW YORK, May 25 (Reuters) - Ratings agency Standard & Poor's cut the ratings on five Spanish banks on F...

Merkel: Mass Eurozone Downgrade Highlights Need For Strong 'Fiscal Compact'

Reuters | Posted 03.16.2012 | Business

* Leaders see downgrades as wake-up call * Italy seen as problem child number one * Merkel says decision should not impe...

Bonnie Kavoussi

S&P Downgrades France And Italy As Investors Avoid Eurozone | Bonnie Kavoussi | Posted 01.14.2012 | Business

Standard & Poor's Ratings Services slashed the credit ratings of nine eurozone countries on Friday, marking a deterioration in confidence in the troub...

Sears' Real Problems Caught on Camera by Retail Expert

Grant Cardone | Posted 02.28.2012 | Business
Grant Cardone

Sears' failing sales is being blamed on the economy, but the reality is shoddy stores, poor customer service, no leadership and no attention to sales ...

S&P Reportedly Met With Bond Investors Before U.S. Downgrade

Posted 11.07.2011 | Business

Ratings agency Standard & Poor's officials privately met with large bond investors weeks before the firm's U.S. debt downgrade, leaving some believing...

The Fed's Paralysis -- Who Will Do the Right Thing?

Harlan Green | Posted 10.31.2011 | Business
Harlan Green

Why so much emphasis on debt, rather than recovery? It is because of timidity on all sides, from the White House and Congress.

Congressman Ryan: Apologize Now About the US Being the Next Greece

Warren Mosler | Posted 10.17.2011 | Politics
Warren Mosler

Congressman Ryan's response to President Obama's State of the Union address included something we've all heard a lot of ever since. He warned along t...

Jason Linkins

Obama Is Beseeched To Call Congress Back From Recess, Despite The Fact Americans Have No Faith In Congress | Jason Linkins | Posted 10.11.2011 | Politics

S&P downgraded the U.S. credit rating, the Dow has been pitching around as if it were the Coney Island Cyclone and millions of Americans are unemployed. Someone should do something! So why not the Congress -- who have famously done nothing?

Austerity: The Wrong Prescription

C. Robert Gibson | Posted 10.11.2011 | Politics
C. Robert Gibson

While Republicans and the corporate media bemoan the growing federal debt as our most pressing crisis, very few commentators have mentioned the necessity of addressing America's most crucial deficit -- jobs.

Jason Linkins

WATCH: S&P Downgrade Gives Media A 'Wake Up Call' About The Terrible Economy | Jason Linkins | Posted 10.09.2011 | Media

Ordinary people in America have probably noticed that over the past three years, the economy has been, for the lack of a better term, "FUBAR." Even if...

After the Downgrade: Declining Blame, Assigning Blame

Rick Horowitz | Posted 10.09.2011 | Comedy
Rick Horowitz

It happened on his watch! It happened on his watch! For events so consequential, Guilt is wholly presidential, And we're here to say It happened ...

Don't Panic: The U.S. Credit Downgrade Changes Nothing

Jeff Reeves | Posted 10.07.2011 | Business
Jeff Reeves

Now that the inevitable has happened, what does it mean for the market and for regular Americans with 401ks and IRAs? Interestingly enough, not much.

Obama Adviser Points Fingers At Tea Party

AP/The Huffington Post | Posted 10.07.2011 | Politics

WASHINGTON — 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 c...

Sunday Roundup

Arianna Huffington | Posted 10.06.2011 | Politics
Arianna Huffington

This week, the United States had its credit rating downgraded from AAA to AA-plus, making our nation the financial equivalent of the short, fat, bald, masked guy in those commercials. In announcing the downgrade, Standard & Poor's cited "the difficulties of bridging the gulf between the political parties" over reducing the deficit, and indicated they wanted even more spending cuts from Congress -- joining the misguided consensus that completely misses the fact that economic growth is the most powerful weapon against the deficit. The White House challenged S&P's analysis, claiming it was off by trillions of dollars. Maybe the ratings agency was using the same math it had when it helped create the fiscal crisis we are still struggling to get out of by awarding AAA ratings to trillions of dollars in subprime mortgages repackaged as securities.

Wow, What a Week!

Lydia Fisher | Posted 10.06.2011 | Business
Lydia Fisher

It remains to be seen how the markets will adjust to the S&P downgrade, whether our creditors will demand higher rates. For now, matters "across the pond" appear worse.

Countries With Higher Credit Ratings Than The U.S.

Posted 10.06.2011 | Business

On Friday, Standard and Poor's downgraded the credit of the United States for the first time in history, leaving only thirteen countries in the world ...

Credit Downgrade for Dummies

Jonathan_Miller | Posted 10.06.2011 | Politics

We have not reached financial Armageddon. But unless Congress immediately begins to address our financial debt in a meaningful, bipartisan way, our economy will suffer a devastating blow.

Ex-Obama Adviser On Downgrade: U.S. 'Pretty Darn F**ked'

Posted 10.06.2011 | Business

On the same night that Standard and Poor's downgraded the United States' top-level credit rating for the first time in history, Christina Romer, forme...

How to Think About Standard and Poor's Downgrade

Dean Baker | Posted 10.06.2011 | Business
Dean Baker

Standard and Poor's downgrade of U.S. government debt captured headlines across the country and around the world. It is a newsworthy event, but primarily as another colossal failure by a major credit rating agency.

U.S. Downgrade Heralds A New Financial Era

PIMCO | Mohamed A. El-Erian | Posted 10.06.2011 | Business

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 ...

Dow Jones Drops On News Of U.S. Credit Downgrade

Posted 06.18.2011 | Business

Update: The Dow Jones closed at 12,201.59, dropping 140.25 points for the day (1.14 percent). On Monday, stocks took a big hit after credit-rating ...