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"The American people need to know that nothing is going to change without some pain for them," says Kenneth Langone, Invemed Associates chairman/CEO. "We're going to pay our debt but who is going to get screwed in the long run? The poor guy that's living on fixed income because inflation will take it's toll," says Langone.
Short-term, the downgrade may not impact banks but the overall reaction from markets and the economy is a concern, says John Kanas, BankUnited chairman, president/CEO.
Standard & Poor's downgrade of the US' credit rating from AAA on Friday, was "absurd", Richard Portes, professor of economics at the London Business School, told CNBC Monday.
Influential economist Nouriel Roubini has warned hopes that the recent slowdown was temporary have been dashed and predicted the US and other advanced economies will have a second “severe recession”.
The decision by Standard & Poor's to cut America's debt rating is, in Alan Greenspan’s view, bad for America’s state of mind.
The sovereign debt crises on both sides of the Atlantic has created what some analysts are calling an "ugliness contest" between the U.S. dollar and the euro, and experts remain split on which of the two currencies are a safer bet.
The U.S. doesn't deserve a AA-plus credit rating, much less triple-A, commodity bull and noted investor Jim Rogers told CNBC on Monday.
After Standard and Poor's historic downgrade of the U.S.'s credit rating to AA-plus from triple-A, fears are growing that other countries may be next, most notably France, which is facing big costs from a bailout of troubled Euro zone countries.
Stanley J. G. Crouch, Aegis Capital Corp, and Jerry Webman, Oppenheimer Funds, discuss how to invest in the markets on the heels of the US debt downgrade.
Mohamed El-Erian, CEO & co-CIO, says the US downgrade heralds a new financial era.
David Beers, Standard & Poor's head of government debt rating unit, explains why S&P downgraded the United States' credit rating from AAA to AA . Veteran investor Jim Rogers also weighs in.
David Beers, head of S&P's government debt rating unit, explains S&P's reasoning behind the downgrade of US sovereign debt.
With S&P’s downgrade of the United States’ credit rating from AAA to AA, many are speculating on how markets and U.S. authorities will respond.
Federal Reserve officials publicly declared it was business as usual in the face of Standard and Poor’s downgrade of US government debt, but privately they acknowledged these were unchartered waters.
Told they had a $2 trillion error in their calculation, S&P roused several of its European committee members from bed for an emergency call. In the end, the decision remained: a downgrade for the U.S.'s Triple-A rating.
Standard & Poor's downgraded the U.S.'s triple-A credit rating to AA-plus late Friday and issued a negative outlook, meaning another downgrade is possible in the next 12 to 18 months.
CNBC's Kate Kelly says the government is bracing for a potential credit downgrade from the ratings agency Standard & Poor's. The downgrade, reports Kelly, may come as early as today. The agency has so far refused comment.
With the threat of failure to reach a debt deal finally out of the way and the worsening global macroeconomic picture gripping investors, it has been a win- win for US Treasurys so far.
The big ratings agencies have been blamed for much during the credit crisis, but they hadn't been raided by any of the countries they've threatened with downgrades, until Wednesday.
Scores of big corporations have lost their AAA status in recent years, and it hasn't seemed to hurt them, so what's the big deal about the federal government losing such status, The New York Times reports.