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Archive for August 13th, 2011

ABC

Professor Peter Morici discusses where the United States can turn to improve its economy and credit rating.

Roubini: Bush Responsible for Economic Woes

WSJ, 8/12/2011 3:01:26 PM

In a clip from his interview with WSJ’s Simon Constable, Dr. Nouriel Roubini insists that it was the policies of George W. Bush that caused the current U.S. economic crisis.

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Global Crisis of Confidence

WSJ

The debt crises in Europe and the U.S. collided violently this week, raising questions about whether political leaders are capable of stemming the trans-Atlantic panic.

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BigPond News Sunday, August 14, 2011 » 01:29pm

The US Securities and Exchange Commission has launched a probe into the process by which Standard Poor’s downgraded the US credit rating, the Wall Street Journal reported.

US officials lashed out at SP after it docked the country’s credit rating from AAA to AA+, accusing the agency of committing a $US2 trillion ($A1.93 trillion) maths error and of using a faulty baseline. SP has stood by its analysis.

The Wall Street Journal, citing unnamed sources, said the SEC would investigate the mathematical model used by the agency and look into which SP employees knew of the decision to downgrade before it was announced.

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