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Post by avordvet on Apr 20, 2011 14:44:56 GMT -5
Obama administration officials tried to keep S&P rating at ‘stable’
By Zachary A. Goldfarb, Tuesday, April 19, 8:55 PM The Obama administration privately urged Standard & Poor’s in recent weeks not to lower its outlook on the United States — a suggestion the ratings agency ignored Monday, two people familiar with the matter said. Treasury Department officials had been discussing with S&P whether the ratings agency should change its outlook on the United States to “negative” from “stable,” an indication that the country could lose its crucial AAA rating in coming years over its soaring debt levels. Treasury officials told S&P analysts that they were underestimating the ability of politicians in Washington to fashion a compromise... Read More: www.washingtonpost.com/business/economy/obama_administration_officials_tried_to_keep_sandp_rating_at_stable/2011/04/19/AFfAeO8D_story.html
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