Archive for downgrade

Reports: Head of rating agency S&P stepping down

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Oooohhhh. Yeah, this has nothing to do with the investigation.

NEW YORK — The president of Standard & Poor's is stepping down, a decision coming only weeks after the rating agency's unprecedented move to strip the United States of its AAA credit rating, according to reports published Monday.

The Financial Times and The Wall Street Journal reported that Deven Sharma will stay on as an adviser to S&P's parent company, McGraw-Hill Cos., until the end of the year. They said S&P plans to make an official announcement Tuesday before the U.S. financial markets open.

The newspapers cite people familiar with the matter who say Sharma's move was in the works well before S&P downgraded its rating on the U.S. to AA-plus on Aug. 5.

The Financial Times also said Sharma's decision to leave S&P was not due to recent reports that the Justice Department was investigating whether the agency improperly rated dozens of mortgage securities in the years leading up to the financial crisis in 2008. It said the move is the result of S&P splitting its data, pricing and analytics business from its ratings business.

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VIDEO: "Thanks for the downgrade, you should all be fired."

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Nobbe says it cost her just under $900 to fly the plane around New York, but the company she used, flysigns.com, was so impressed with what she did they gave her a discount.

Nobbe says she hopes it will be a wake-up call to lawmakers to get the country's finances in order.

Today, John Boehner got 98% of what he wanted. Keep those cuts coming, Tealoaders!

Investors were disheartened by reports that European banks might be vulnerable and by the Federal Reserve's gloomy U.S. economic outlook.

More soon at www.latimes.com/.

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VIDEO-BLUNT: How Crazy Is the Tea Party Congress?

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Blunt is a lot like letters to the editor. YOUR take, short, to the point.

You have a voice, now use it.

This webisode of Blunt comes with special instructions. Every time Rep. Joe Walsh pops up, the text at the bottom changes slightly. You have to be quick, or pause the video, to catch it.

Also, a special thanks to voice actor extraordinaire D.C. Douglas for graciously allowing me to use clips from his amazing video, "Tea Party! America Thanks You!"

For more information about how to contribute to Blunt, follow this link.

It’s your turn. Go.

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VIDEO: "Why didn't President Obama call Congress back to work?"

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"Where's his sense of urgency?"

Of course she didn't ask, "Where is the GOP's sense... period?"

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VIDEO: Apparently Allen West didn't read the S & P release

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Allen West, had you even bothered to read the Standard and Poors release, you'd have seen this (via Think Progress):

It appears that for now, new revenues have dropped down on the menu of policy options. [...]

We have changed our assumption on this because the majority of Republicans in Congress continue to resist any measure that would raise revenues, a position we believe Congress reinforced by passing the act.

Then again, what else would we expect from someone who claims it's “socialist” to recognize the (ever-growing) gap between rich people and the rest of the country, fought to defund Planned Parenthood, called Rep. Debbie Wasserman-Schultz the most vile, unprofessional and despicable member of the US House of Representatives, and had my friend and radio host Nicole Sandler arrested for committing democracy?

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Going DOWn: Dow closes at -632

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To repeat, John Boehner got 98% of what he wanted. Going DOWn:

Go "job creators"! USA! USA!

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VIDEO: President Obama Talks About Markets and Downgrade on Black Tea Monday

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Via @suburubu:

The phrase "Black Tea Monday" courtesy of @Marnus3. U.S. credit has been downgraded, the Dow has plummeted and the President has spoken:

H/t: @ReasonVsFear

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