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Posted: 9/21/2011 3:25:47 PM EST
The Bank of Italy headquarters is seen in Rome, Tuesday, Sept. 20, 2011 the day after Standard & Poor's Ratings Services has downgraded Italy's credit rating by one notch, saying it sees weakening economic growth prospects for the European nation and higher-than-expected levels of government debt. Late Monday Sept. 19, 2011, in New York, the ratings firm cut Italy's long- and short-term sovereign credit ratings, but leaving it still five steps above junk status. (AP Photo/Andrew Medichini)
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Posted: 9/21/2011 3:25:46 PM EST
The Bank of Italy headquarters is seen in Rome, Tuesday, Sept. 20, 2011 the day after Standard & Poor's Ratings Services has downgraded Italy's credit rating by one notch, saying it sees weakening economic growth prospects for the European nation and higher-than-expected levels of government debt. Late Monday Sept. 19, 2011, in New York, the ratings firm cut Italy's long- and short-term sovereign credit ratings, but leaving it still five steps above junk status. (AP Photo/Andrew Medichini)
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Posted: 8/24/2011 3:20:45 AM EST
Japanese Finance Minister Yoshihiko Noda talks to reporters about downgrading of Japan's credit rating by Moody's Investors Service at his ministry in Tokyo Wednesday morning, Aug. 24, 2011. Moody's cut Japan's government bond rating to Aa3 from Aa2, citing the country's weak growth prospects, massive government debt and constant political turmoil. (AP Photo/Kyodo News) JAPAN OUT, MANDATORY CREDIT, NO LICENSING IN CHINA, FRANCE, HONG KONG, JAPAN AND SOUTH KOREA
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Posted: 8/22/2011 10:49:11 PM EST
Citibank Japan CEO Douglas Peterson attends a joint news conference in Tokyo in this April 27, 2007 file photo. The chief of Standard & Poor's will step down next month, to be replaced by a senior Citibank executive, in a move announced a few weeks after the credit rating agency downgraded U.S. government debt and sparked a row with Washington. S&P's parent, McGraw-Hill Companies Inc , said on August 23, 2011 that Deven Sharma, who has served as S&P president since 2007, would step down on Sept. 12, to be succeeded by Peterson. REUTERS/Kiyoshi Ota/Files
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Posted: 8/22/2011 10:48:49 PM EST
Citibank Japan CEO Douglas Peterson attends a joint news conference in Tokyo in this April 27, 2007 file photo. The chief of Standard & Poor's will step down next month, to be replaced by a senior Citibank executive, in a move announced a few weeks after the credit rating agency downgraded U.S. government debt and sparked a row with Washington. S&P's parent, McGraw-Hill Companies Inc , said on August 23, 2011 that Deven Sharma, who has served as S&P president since 2007, would step down on Sept. 12, to be succeeded by Peterson. REUTERS/Kiyoshi Ota/Files
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Posted: 8/22/2011 10:27:37 PM EST
Citibank Japan CEO Douglas Peterson attends a joint news conference in Tokyo in this April 27, 2007 file photo. The chief of Standard & Poor's will step down next month, to be replaced by a senior Citibank executive, in a move announced a few weeks after the credit rating agency downgraded U.S. government debt and sparked a row with Washington. S&P's parent, McGraw-Hill Companies Inc , said on August 23, 2011 that Deven Sharma, who has served as S&P president since 2007, would step down on Sept. 12, to be succeeded by Peterson. REUTERS/Kiyoshi Ota/Files (JAPAN)
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Posted: 8/22/2011 10:26:21 PM EST
Citibank Japan CEO Douglas Peterson speaks during a joint news conference in Tokyo in this April 27, 2007 file photo. The chief of Standard & Poor's will step down next month, to be replaced by a senior Citibank executive, in a move announced a few weeks after the credit rating agency downgraded U.S. government debt and sparked a row with Washington. S&P's parent, McGraw-Hill Companies Inc , said on August 23, 2011 that Deven Sharma, who has served as S&P president since 2007, would step down on Sept. 12, to be succeeded by Peterson. REUTERS/Kiyoshi Ota/Files (JAPAN - Tags: BUSINESS HEADSHOT)
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Posted: 8/15/2011 1:55:45 AM EST
FILE - In this Aug. 8, 2011 file photo, a money trader waits for calls from clients during the morning trading at a money brokerage in Tokyo as financial ministers from the Group of Seven economies hold talks on world market stability following a historic U.S. credit downgrade. The idea that Japan would ever dump its $900 billion holdings of U.S. Treasurys, the second largest foreign ownership after China, has long been just that _ an idea never seriously entertained. But after Washington's credit rating was downgraded for the first time ever earlier this month _ from AAA to AA+ by Standard & Poor's _ some daring advocates are voicing that taboo idea: Why not sell Treasurys? (AP Photo/Junji Kurokawa, File)
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Posted: 8/10/2011 9:46:35 AM EST
FILE - In this Aug. 8, 2011 file photo, an investor walks past a bull sculpture outside a brokerage firm in Beijing, China, as Asian stocks nose-dived after the first-ever downgrade of the U.S. government's credit rating jolted the global financial system. Asian governments face a balancing act as they fight accelerating inflation while economic malaise in the U.S. and turmoil in financial markets threaten to dim the region's growth. (AP Photo/Alexander F. Yuan, File)
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Posted: 8/10/2011 9:46:23 AM EST
FILE - In this Aug. 7, 2011 file photo, tourists in colorful rain coats visit the Bund, one of the most popular tourist destinations in town, to view the city's famous skyscrapers across the Huangpu River in heavy rain and strong wind caused by Typhoon Muifa in Shanghai, China. Asian governments face a balancing act as they fight accelerating inflation while economic malaise in the U.S. and turmoil in financial markets threaten to dim the region's growth. Global stocks were battered this week by the first-ever downgrade of the U.S. credit rating and indicators pointed to stalling recoveries in the U.S. and Europe that could erode demand for Asia's exports of cars, gadgets, clothing and other goods. (AP Photo/Eugene Hoshiko, File)
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Posted: 8/9/2011 9:50:53 AM EST
An Egyptian trader reacts after trading has been halted for 30 minutes on the Egyptian Exchange after the benchmark index fell 5 percent, tracking a plunge in other world markets at the stock market, in Cairo, Egypt, Tuesday, Aug.9, 2011. The Egyptian Exchange's benchmark index plunged, with investors taking their cues from other international markets taking a beating on fears that the downgrade in the U.S.'s credit rating could trigger a new global recession. (AP Photo/Amr Nabil)
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Posted: 8/9/2011 9:50:53 AM EST
Egyptian traders take a break while trading is halted for 30 minutes on the Egyptian Exchange, after the benchmark index fell 5 percent, tracking a plunge in other world markets at the stock market, in Cairo, Egypt, Tuesday, Aug.9, 2011. The Egyptian Exchange's benchmark index plunged, with investors taking their cues from other international markets taking a beating on fears that the downgrade in the U.S.'s credit rating could trigger a new global recession. (AP Photo/Amr Nabil)
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Posted: 8/9/2011 9:50:52 AM EST
Egyptian traders take a break while trading is halted for 30 minutes on the Egyptian Exchange, after the benchmark index fell 5 percent, tracking a plunge in other world markets at the stock market, in Cairo, Egypt, Tuesday, Aug.9, 2011. The Egyptian Exchange's benchmark index plunged, with investors taking their cues from other international markets taking a beating on fears that the downgrade in the U.S.'s credit rating could trigger a new global recession. (AP Photo/Amr Nabil)
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Posted: 8/9/2011 9:50:52 AM EST
An Egyptian trader reacts after trading had been halted for 30 minutes on the Egyptian Exchange after the benchmark index fell 5 percent, tracking a plunge in other world markets at the stock market, in Cairo, Egypt, Tuesday, Aug.9, 2011. The Egyptian Exchange's benchmark index plunged Tuesday, with investors taking their cues from other international markets taking a beating on fears that the downgrade in the U.S.'s credit rating could trigger a new global recession. (AP Photo/Amr Nabil)
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Posted: 8/9/2011 9:50:52 AM EST
An Egyptian trader talks under a screen displaying "change -5.83" after trading was halted for 30 minutes on the Egyptian Exchange after the benchmark index fell 5 percent, tracking a plunge in other world markets at the stock market, in Cairo, Egypt, Tuesday, Aug. 9, 2011.The Egyptian Exchange's benchmark index plunged, with investors taking their cues from other international markets taking a beating on fears that the downgrade in the U.S.'s credit rating could trigger a new global recession. (AP Photo/Amr Nabil)
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Posted: 8/9/2011 9:50:52 AM EST
An Egyptian trader reacts after trading was halted for 30 minutes on the Egyptian Exchange after the benchmark index fell 5 percent, tracking a plunge in other world markets at the stock market, in Cairo, Egypt, Tuesday, Aug. 9, 2011. The Egyptian Exchange's benchmark index plunged, with investors taking their cues from other international markets taking a beating on fears that the downgrade in the U.S.'s credit rating could trigger a new global recession. (AP Photo/Amr Nabil)
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Posted: 8/9/2011 8:36:11 AM EST
FILE - In this July 6, 2011 file photo released by China's Xinhua news agency, a man walks past the office building of the People's Bank of China in Beijing. China and other governments have little choice but to keep buying U.S. Treasury debt to store swelling foreign reserves even after Washington's credit rating was cut by Standard & Poor's. (AP Photo/Xinhua, Liang Zhiqiang, File) NO SALES
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Posted: 8/9/2011 8:36:11 AM EST
FILE - In this Feb. 15, 2011 photo, the Bank of Japan building is reflected on the glass covering the plate of its adjunct museum in Tokyo. China and other governments have little choice but to keep buying U.S. Treasury debt to store swelling foreign reserves even after Washington's credit rating was cut by Standard & Poor's. (AP Photo/Shizuo Kambayashi, File)
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Posted: 8/9/2011 3:45:49 AM EST
A man eats ice cream as he walks by an electric panel showing global stock indexes in Tokyo Tuesday morning, Aug. 9, 2011. Asian stocks nose-dived Monday as the first-ever downgrade of the U.S. government's credit rating jolted the global financial system, reinforcing fears that the world economy is weakening. (AP Photo/Hiro Komae)
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Posted: 8/9/2011 3:45:49 AM EST
People walking across an intersection are reflected on an electric panel that updates Japanese stock prices in Tokyo Tuesday morning, Aug. 9, 2011. Asian stocks nose-dived Monday as the first-ever downgrade of the U.S. government's credit rating jolted the global financial system, reinforcing fears that the world economy is weakening. (AP Photo/Hiro Komae)
