Saturday, August 06, 2011

Never Before: S&P Downgrades US Credit Rating

Standard & Poors announced yesterday night that it has downgraded the U.S. credit rating for the first time, dealing a symbolic blow to the world’s economic superpower in what was a sharply worded critique of the American political system.

Lowering the nation’s rating to one notch below AAA, the credit rating company said “political brinkmanship” in the debate over the debt had made the U.S. government’s ability to manage its finances “less stable, less effective and less predictable.” It said the bipartisan agreement reached this week to find at least $2.1 trillion in budget savings “fell short” of what was necessary to tame the nation’s debt over time and predicted that leaders would not be likely to achieve more savings in the future.

“It’s always possible the rating will come back, but we don’t think it’s coming back anytime soon,” said David Beers, head of S&P’s government debt rating unit. -Washington Post.

Read more HERE


Anonymous said...

Yes, and never before has an Indian guy become the largest shareholder in MAS. Mane Ibrahim Ali, tengah kentot kot Nuraina, x usah to see the nyamok very far away, tapi gajah depan mata kite, buat deeeer je.

Anonymous said...

Never b 4 - Melayu Angkat Spender (MAS). Kalu dulu MAS tu Melayu Ada Seluar, kini terpaksa angkot sluar dlm...... MAS kini milik Tony si India Fernandes...... Syabas B N