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July 27th, 2011
09:29 PM ET

U.S. at risk of credit downgrade

Financial analysts say lawmakers should be very worried about a possible downgrade of America's credit rating. CNN's Mary Snow reports.

RELATED STORY: Debt ceiling fight: What a downgrade would mean

Filed under: Debt • Mary Snow
soundoff (4 Responses)
  1. Perk

    Today they're all saying no default ! ? The "Dramatics" and the "Temptations" with the people's money and their political "Smiling Faces." Don't get funny with the people's money ! "Dancing In The Streets" benefits for homeless and economic tough times ! What's in this economic soup they're mixing ? Team up Washington and get the combination out of all economic plans on the table that is in the best interests of the USA and all American citizens ! It's not about one political party or the other and time for real solutions ! Run your numbers by American citizens and save us the political "Do,Do Da,Da Da Do,that's all I want to say to you ." The American Citizen Sting is on $ ! Door number 1 ,Door number 2 or will the economic plan be behind door # 3 ? Let's Make A Deal Show is on !

    July 31, 2011 at 11:29 am |
  2. rose macaskie.

    The financiers have done everthing they possibly could to break the country both in the line of lazy inefficient bunch of layed back doops who did not check up on the mortgage they were selling and so find out it was bad debt that another lot of financiers had got hold of to appease the greed of financiers who were longing to get their cut on any debt that the public was hungry to buy and payed them a nice slice to find for them. They were so uselesss most of them did not even know what they were up to, Moody's included, Moody's evalueted one especially worthless chunk of this debt as Goldman Sacks asked them to, which is to say as very valuable, rather than as their own study of it lead them to believe its value was study there is no sign they ever did on it. So Moody's lazy and sold out to Goldman Sacks and are the people who are helping to hold up the country to ransome now. They are trying to bring down any plan to help the people ruined by their actions. it is easy to see how to turn the tables on them, face them with long and rerpear¡ted descriptions of their behavior till the unfinancial world begins to understand as well as any financier what is going on, let the public know what happened, I am sick of waiting for others to explain it so here goes.
    Micheal Lewis famed for explaining the ins and outs of the finacial world's book " The Big Short" explains that people never used to buy debt because it was to risky for private individuals, the banks were the ones who profited from the interests that people who take out a debt pay up untill someone in the last ten or so years i dont remember when and my daughter has taken off the book to read it, had the bright idea of spreading the risk of private peoples debt by bundling up debt into bundles with lots of different peoples debt in the bundles a small percentage of which were of high risk mortgage loans and others of meduim and others of near as anything safe moprtgage loans all gathere d to gether into a safe whole they could sell shares of to private pèople. So they did this and soon everyone wanted to buy shares in debt called not "shares" as it was debt but "bonds" mortgage bonds, that people swallowe dup even more eagerly than before they had looked for shares in companies, so the middle men, who earned their very juicy incomes selling debt, started to want more debt to sell, so other middle men went out into the high ways and by ways trying to convince people to take out loans whether these people could afford to or not, they even offered them teaser prices, very low interest rates on the debt for the first two years to make it easier to convince them they could afford the debt and they persuaded people who were poor and knew little about finance. It was the greed of financiers who wanted more debt to sell not the greed of house owners that lead to so many people who could not afford it taking out loans much bigger than they could pay back, that dragged them into bankruptcy.
    Then these theives and scoundrels added insult to injury, when the householders they had duped into taking out loans they could not afford went broke and lost all they had the financiers said it was the householders greed that had broken them, when it was the financiers greed for valuable loans that had broken them and now they are putting their oars in to drag down Obama who was trying to to help the very poor those people that these financiers had ruined. They weren't brought to account after the crash and so they are still up to their lethal mischeviousness. rose macaskie.

    July 29, 2011 at 9:01 pm |
  3. Amaya Richardson

    Although we all know that the US will indeed raise the debt ceiling, Republicans are out of their minds if they think people will not remember how Republicans used strongarm tactics to force the country to adopt drastic spending cuts at the 11th hour that will ultimately leave the majority of Americans out in the cold to bleed when they are already crippled by the ongoing recession. The majority of Americans will not forget how the Republican Party placed its own political interests over the economic interests of our country. Republicans need to stop being children and raise the debt ceiling or they will likely face the wrath of millions of angry protesters come August 1st.

    July 28, 2011 at 6:50 pm |
  4. Lauren Sanders

    Well it's official Washington politicians have totally lost their minds. Only thing left to do is to roll out the guillotine and have a French style revolution. Off with the heads of all federal politicians, lobbyists and PAC leaders. Broadcast beheadings on pay for view and use the money to help pay off the national debt. Then take the money from all the rich wall street crooks, the bankers and the those who own half this countries wealth and pay off the national debt and start over.
    It's time to rewrite America's "Great Experiment". Take all the 'good things' from all known political systems throughout history and make a new system and give it a try. Can't be any worse than what we have now, RIGHT?!

    July 28, 2011 at 6:47 pm |

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