s & p downgrades us debt , page-9

Required Reading.


1) - Market swings explained in 5 stories:
http://ftalphaville.ft.com/blog/2011/08/06/645101/friday-five-stories-five-questions/

2) - The credibility of USA, its ratings agencies and the significance of S&P's downgrade:
http://ftalphaville.ft.com/blog/2011/08/06/645291/s-us-still-on-aaa/

Of course....all this was BEFORE 8:30pm, when S&P sorta went...."If we don't downgrade now, after telling them in the afternoon we are going to, we look like monkeys. Nevermind miscalculating 2 trillion. It was printed money anyway that should be worth about 17 cents."