S&P downgrades US credit rating

[n8tive97]

Yeah its all Obama and the Dems fault...........

The most honest thing you have ever typed!

[MrPrena]

Despite Moody and Fitch, S&P at least had a guts to downgrade the rating.

Moody is probably the last one to downgrade the rating, because Berkshire has majority of the stake in them.

Oh yes. Fannie and Freddy got a downgrade today as well from Standard & Poor.

http://finance.yahoo.com/news/SampP-...49763.html?x=0

[tmleadr03]

Despite Moody and Fitch, S&P at least had a guts to downgrade the rating.

Moody is probably the last one to downgrade the rating, because Berkshire has majority of the stake in them.

Oh yes. Fannie and Freddy got a downgrade today as well from Standard & Poor.

http://finance.yahoo.com/news/SampP-...49763.html?x=0

We may not see the stock market circuit breakers pop, but I bet we see a steady decline for the rest of the week.

[tmleadr03]

Probably appropriate to this thread:

[jmg8550]

Probably appropriate to this thread:

They pulled the video already.

[tmleadr03]

They pulled the video already.

[sbouslog]

You guys do realize that all of the ratings agencies are a joke, right? They meant something before 2008 but since then don't mean shit. When an issuer gets downgraded their cost of money goes up. This means they should have to pay a higher interest rate to borrow money going forward. Last week the 10 year treasury was going for roughly 2.45%. Today, after the downgrade people were purchasing these at 2.37%. Money is still flocking to US debt at an amazing rate because it is still the highest quality debt in the world. Clearly they got it wrong but they can't go back and change it now or the whole country will know what a joke they are.