Standard and Poor has followed through on its threat, and reduced the credit rating of the US Government from AAA to AA+, at the same time as the other two major credit rating agencies confirmed their AAA ratings.
Here's the story, just broken at The Hill about an hour and a half ago. Note that they did this late on a Friday, so that it will tend to fall into the "black hole" of the weekly news cycle.
Oh my!
Now, here's another story, from back in April of this year, in which Treasury Secretary Tim Geithner says there is "no risk" that the US will lose its top credit rating.
Ohhhhh, Timmy! What will you do now? Your record isn't looking very good, is it?
Here's the story, just broken at The Hill about an hour and a half ago. Note that they did this late on a Friday, so that it will tend to fall into the "black hole" of the weekly news cycle.
Oh my!
Now, here's another story, from back in April of this year, in which Treasury Secretary Tim Geithner says there is "no risk" that the US will lose its top credit rating.
Ohhhhh, Timmy! What will you do now? Your record isn't looking very good, is it?
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Lyn LeJeune
Kate Kasserman
Rebecca Sarwate
koshersalaami
Judy Mandelbaum
Waleed Malik
Salon.com
Comments
Some may feel that this s, but a minor matter, but they should read the economists' take on this. The repercussions of this will be widespread and severe.
Thanks for posting this.
-R-
So, you think our resident Presidential tuchislekkir will show up to tell us all how Obama had no choice?