Standard & Poor's Defends Lowering U.S. Credit Rating

Standard & Poor's was making no apologies today for downgrading the United States, telling investors that the gold standard of global finance is no longer the safest place to put your money. Standard & Poor's downgraded the U.S. rating from AAA to AA+ on Friday. "Our job is to hold the mirror up to nature, and what we are telling investors is that the United States government is slightly less credit worthy," said John Chambers, head of Standard and Poor's sovereign ratings committee. In its...Full Story
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