At the head of the U.S. rating agency Standard & Poor's, there is a change: The incumbent President Deven Sharma since 2007, will chair the 12th of his September vacate and make room for Douglas Peterson, said S & P. Peterson was previously managing director of Citibank.
Douglas Peterson replaced by Citibank to the top of S & P.
The change in S & P follows a few weeks after the spectacular decision of the agency, downgraded the credit of the United States. The "Financial Times" reported, citing insiders, the departure of Sharma to stand in no relation. Even the reports of investigations by the U.S. Department of Justice against the rating agency in the wake of the mortgage crisis had not been decisive for the resignation.
S & P announced the company was looking for since late last year after a new boss. Sharma will participate until his final retirement at the end of the year on the strategic direction of the S & P's parent company McGraw-Hill.
Obama: We will always remain a land-AAA
Following the downgrade of U.S. credit, President Obama is confident. In a speech he urged the strength of the U.S. economy. The problems were "solved". It was important to end the political impasse and to resolve the long-known problem of debt.
Barack Obama did not like the rating agency Standard & Poor's (S & P) criticize not so frontally, as had Treasury Secretary Tim Geithner at the weekend. The president knows that he had been warned long enough - and that he had used this warning in the last battle with the Republicans as leverage.
But that their valuation is not the measure of all things, he also turned out: Yes, S & P's credit of the United States had downgraded, but the market continues to believe that the status is a AAA.
Deficit problem is not new
"Warren Buffet, who knows one or two things about financial markets, has even said that if there was a quadruple A, then I would give the United States that," Obama said. He and most investors would see the world the same way. "Fact: We did not need a rating agency to tell us that we need a balanced approach to our deficit problem," stressed the President.
The fact was already the case, when he came into office in the early 2009. You need the Agency does not even know about, that the current political culture in Washington had little to inspire confidence, it is Obama. It should not go on like this, that some "not the good of the country in the forefront, but its ideological boundaries."
Six Democrats and six Republicans in the super-committee
So the president, the two Congress parties urged to send in flexible politician and consensus in those super-commission to come up to the end of November with binding proposals to reduce debt. Republicans and Democrats must nominate six of their number. Still no names are fixed.
"We are operating in tough times, but here's the good news. Our problems are solvable," said Obama continued. The problem lies not in the confidence in the creditworthiness. The markets have shown today that the U.S. government bonds were among the safest in the world. "Our challenge is to our long-term debt and budget deficits to address," he said.
The U.S. must now spending cuts already adopted by two additional steps to connect: a Tax Reform, in which were contributing their share of those who can afford it. And careful adjustments including Medicare, the government health insurance for the elderly.
Losses on the U.S. exchanges
While Barack Obama spoke to the television cameras, Dow Jones and NASDAQ to the New York Stock Exchange tumbled further into the depths: they were temporary 4.8 percent and six percent in the red over the closing price on Friday.
But the president gave himself unperturbed: there will always be economic factors that the U.S. could not control: earthquakes, eruptions in oil prices, poor economic developments in other parts of the world. "But it's up to us how we respond," said Obama. "We are the United States of America, and no matter what some agencies say: We've always been a AAA country and we will always remain so."
Douglas Peterson replaced by Citibank to the top of S & P.
The change in S & P follows a few weeks after the spectacular decision of the agency, downgraded the credit of the United States. The "Financial Times" reported, citing insiders, the departure of Sharma to stand in no relation. Even the reports of investigations by the U.S. Department of Justice against the rating agency in the wake of the mortgage crisis had not been decisive for the resignation.
S & P announced the company was looking for since late last year after a new boss. Sharma will participate until his final retirement at the end of the year on the strategic direction of the S & P's parent company McGraw-Hill.
Obama: We will always remain a land-AAA
Following the downgrade of U.S. credit, President Obama is confident. In a speech he urged the strength of the U.S. economy. The problems were "solved". It was important to end the political impasse and to resolve the long-known problem of debt.
Barack Obama did not like the rating agency Standard & Poor's (S & P) criticize not so frontally, as had Treasury Secretary Tim Geithner at the weekend. The president knows that he had been warned long enough - and that he had used this warning in the last battle with the Republicans as leverage.
But that their valuation is not the measure of all things, he also turned out: Yes, S & P's credit of the United States had downgraded, but the market continues to believe that the status is a AAA.
Deficit problem is not new
"Warren Buffet, who knows one or two things about financial markets, has even said that if there was a quadruple A, then I would give the United States that," Obama said. He and most investors would see the world the same way. "Fact: We did not need a rating agency to tell us that we need a balanced approach to our deficit problem," stressed the President.
The fact was already the case, when he came into office in the early 2009. You need the Agency does not even know about, that the current political culture in Washington had little to inspire confidence, it is Obama. It should not go on like this, that some "not the good of the country in the forefront, but its ideological boundaries."
Six Democrats and six Republicans in the super-committee
So the president, the two Congress parties urged to send in flexible politician and consensus in those super-commission to come up to the end of November with binding proposals to reduce debt. Republicans and Democrats must nominate six of their number. Still no names are fixed.
"We are operating in tough times, but here's the good news. Our problems are solvable," said Obama continued. The problem lies not in the confidence in the creditworthiness. The markets have shown today that the U.S. government bonds were among the safest in the world. "Our challenge is to our long-term debt and budget deficits to address," he said.
The U.S. must now spending cuts already adopted by two additional steps to connect: a Tax Reform, in which were contributing their share of those who can afford it. And careful adjustments including Medicare, the government health insurance for the elderly.
Losses on the U.S. exchanges
While Barack Obama spoke to the television cameras, Dow Jones and NASDAQ to the New York Stock Exchange tumbled further into the depths: they were temporary 4.8 percent and six percent in the red over the closing price on Friday.
But the president gave himself unperturbed: there will always be economic factors that the U.S. could not control: earthquakes, eruptions in oil prices, poor economic developments in other parts of the world. "But it's up to us how we respond," said Obama. "We are the United States of America, and no matter what some agencies say: We've always been a AAA country and we will always remain so."
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