A letter was received by securities regulators, from the president of Standard and Poor’s, saying that they shouldn’t ask the credit rating agencies to make a public revelation of all their miscalculations.  The letter came after 3 days of discovery of a mistake (made by Treasury Department officials) in the assumptions which S&P used for [...]

S. & P. lowers its ratings in nation’s one of the most significant financial institutions, from major trading clearinghouses to mortgage giants like the Federal National Mortgage Association which depends on the government heavily. The credit ratings for United States dropped from AAA to AA+. S. & P also slumps down the top credit rating for [...]

Last few days has been remorseful for the nation, one gets to see the decline in the nation’s credit rating, poll figures show public support for Congress at record lows, which peaked on Monday with an impetus in the stock market. Democrats and Congressional Republicans trying to retreat to their now-familiar positions, each trying to [...]

Monday witnessed a fall in the interest rates on Italian and Spanish bonds following an expansion of purchases of the European Central Bank (ECB) for backing Rome as well as Madrid for the very first time. In Asia as well as Europe, stocks fell and the dollar kept on weakening in comparison to other chief [...]

Credit rating of the US in the long-term could see another demotion again by Standard & Poor’s in a period of less than 3 months following the shockwaves it has already sent through the stock and bond markets by robbing the nation of its superlative AAA rating last week, as per a conference call for [...]

For the very first time, the triple-A credit rating hitherto enjoyed by the US was downgraded by Standard & Poor’s, as it criticized both the political process of the nation and the lawmakers for meeting failure as regards cutting spending sufficiently for the reduction in record budget deficits. Now the new rating for U.S is [...]

Tuesday saw the United States stepping back from the verge of default; however there is no stopping fear of credit relegation as well as future tax and spending feuds. As US borrowing authority was raised following a compromise which took a long time to win over, lawmakers and President Barack Obama heaved a sigh of [...]

The provisional U.S. deal for averting a devastating debt default will only be a mild respite for the US economy which almost came to a standstill during the first half of 2011, and still hasn’t shown any signs of realistic pickup. If the plan of $2.4 trillion in spending cuts spread over a decade enjoys the support [...]

As per Willem Buiter, Citi Chief Economist piloting the fiscal swamp of America – even if investors don’t tumble down – will not be pretty. According to what Buiter believes the US defaulting in the midst of an impasse in Washington over lifting the cap on debt ceiling is unlikely, but at the same time [...]

In the midst of the arguable debt ceiling debate, United States has risked itself of being dismissed from a prestigious group of countries which pride themselves of an immaculate credit rating. In total there are only seventeen countries in the world – inclusive of the US – which possess the highly desirable AAA rating from [...]