Perhaps traders were holding their breath thinking that the President, absent since the announcement, was really going to say something that might stabilize the markets and give confidence to skittish businesses. Instead he begged Congress to do something to create jobs and talked about the taxes.
If it wasn't for those darn Tea Partiers, we’d already be in Obamatopia with unicorn-powered cars and an economy driven to new heights by unity, hope, and most importantly, THE POWER OF LOVE.
Presidential hopeful Ron Paul blames out-of-control spending for the downgrade and predicts coming inflation.
Secretary Geithner will stay at Treasury Department amidst calls for him to resign over S&P downgrade.
Former Federal Reserve Chairman Alan Greenspan says not to worry about US credit rating because the US "can always print money."
S&P downgrades Fannie Mae and Freddie Mac just three days after downgrading the US credit rating.
Rep. Phil Gingrey (R-Ga.) discusses the possibility of another downgrade of the U.S. credit rating sometime in the near future.