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12-18 months so a lot of new courses in bringing a lot of new people into the game. p >>reporter: many of which have been built by adventure golf developments in partnership with leading us operator, castle golf. p >>richards: we've done about 10 or 11 over here in the last three years we've been doing three complexes a year,two outdoor, one outdoor is what we've been averaging, with several lined up for next year so hopefully we'll be busy again through next year. p >>reporter: judging by the return on investment that these courses are generating, the future looks assured. p >>richards: you are really looking at $7-$800,000 for a complete 36 hole set up. indoor sites can go a lot more than that because of all the air conditioning, sprinkler systems that are needed. that is a fair bitof investment to start with but most of the guys we've been doing it for are looking at about 18 months to 2 years return on it and they're doing quite good. p >>reporter: indeed, the numbers are impressive. p >>tomkins: if we are talking the middle of august, we've got three courses running, were going full steam and t
12-18 months so a lot of new courses in bringing a lot of new people into the game. p >>reporter: many of which have been built by adventure golf developments in partnership with leading us operator, castle golf. p >>richards: we've done about 10 or 11 over here in the last three years we've been doing three complexes a year,two outdoor, one outdoor is what we've been averaging, with several lined up for next year so hopefully we'll be busy again through next year. p...
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but one point that officials have been making, while the s&p have downgraded the u.s.' debt, fitch and moody's still have the u.s. as a aaa. while we're not going to see it go right back to aaa with s&p, so far these other two ratings agencies haven't followed suit. >> all right. the american people are going to have a very interesting thing to watch here as this plays out, especially gearing into election season. athrena jones, thank you so muc from washington. >>> well, not surprisingly, reaction from the downgrade from republican presidential candidates, it's been fast and furious. mitt romney released a statement saying "america's creditworthiness just became the latest casualty in president obama's failed record of leadership on the economy. standard & poor's rating downgrade is a deeply troubling indicator of our country's decline under president obama." that from mitt romney. the reaction from michele bachmann, also a presidential contender, "i call on the president to seek the immediate resignation of treasury secretary timothy geithner and to submit a plan with
but one point that officials have been making, while the s&p have downgraded the u.s.' debt, fitch and moody's still have the u.s. as a aaa. while we're not going to see it go right back to aaa with s&p, so far these other two ratings agencies haven't followed suit. >> all right. the american people are going to have a very interesting thing to watch here as this plays out, especially gearing into election season. athrena jones, thank you so muc from washington. >>> well,...
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anp. >> right about now you may be thinking why did a little company like standard & poors have suc our economy? s&parry big weight with professional investors folks deciding whether or not to buy our nation's debt. they don't have the time to analyze the safety of every bond they buy they rely on ratings agencies like s&p to do it for them. it's probably good outsiders judge sovereign debt because you can image what the advice the countries themselves would give on the debt, buy it it's great. but the reputations of all of the big ratings agencies have been in at that timers after th taters after they failed to forecast what happened had the investment market. some companies say s&p is trying to get back the reputation after the downgrade. our financial system is compromised our national debt $14 trillion the same as total economic output each year. s&p has that much right. we need to do something about our debt levels and soon. downing me matt mccall and james guillard chairman and reo of rabid ratings international which gives financial health ratings for thousands of countries worldwide. lee is
anp. >> right about now you may be thinking why did a little company like standard & poors have suc our economy? s&parry big weight with professional investors folks deciding whether or not to buy our nation's debt. they don't have the time to analyze the safety of every bond they buy they rely on ratings agencies like s&p to do it for them. it's probably good outsiders judge sovereign debt because you can image what the advice the countries themselves would give on the debt,...
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and evening where the treasury department was as charlie was alluding to trying to point out to s&p you have matt error here and overcounted $2 trillion in debt that the white house believes was overstating the problem but at the end of the night, obviously, s&p still moved forward with the downgrade anyway. i think, you know, the first impact for the president is the fact that when you look at the morning papers, that, you know, decent jobs report yesterday wasn't a great jobs report but there was job growth. certainly a lot better than wall street was expecting. that's the second or third story on most front pages. first store, of course, much bigger type is the downgrade. and so president can't catch a break. even when he gets a decent jobs report, that's overshadowed. i think, look, the reason why the administration was fighting so furiously to push back on s&p yesterday afternoon and evening is they know it's going to be a stain on his presidency. follow him to the history books, first had the to have this happen on his watch. follow him into november of 2012 and be a part of the lot of
and evening where the treasury department was as charlie was alluding to trying to point out to s&p you have matt error here and overcounted $2 trillion in debt that the white house believes was overstating the problem but at the end of the night, obviously, s&p still moved forward with the downgrade anyway. i think, you know, the first impact for the president is the fact that when you look at the morning papers, that, you know, decent jobs report yesterday wasn't a great jobs report...
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but promise it shouldn't have been because the s&p warned in the debt talks this might happen if there were not more spending cuts. >> absolutely. this is the most del greated downgrade. i have covered them not in the u.s.. but it is unprecedented it is telegraphed and one of the most i have ever seen in the corporate deals in a long time. i don't think the markets will be that upset with this. we'll see. i am not encouraging people to buy s&p futures. but it will be an interesting monday morning opening and the people i talked to. when it started filtered out and leaked out by the government preparing everybody that it was happening and people on wall street that the market reaction will not be that great. it is a huge political stories and hearing rumblings in washington on the congressional committees that the democrats are out for blood and they want investigations of s&p. we'll see if that happens. something unprecedented happened. a president spent money and didn't get a bang for the buck . because of that we have a massive fight over the size of government and s&p is right now,
but promise it shouldn't have been because the s&p warned in the debt talks this might happen if there were not more spending cuts. >> absolutely. this is the most del greated downgrade. i have covered them not in the u.s.. but it is unprecedented it is telegraphed and one of the most i have ever seen in the corporate deals in a long time. i don't think the markets will be that upset with this. we'll see. i am not encouraging people to buy s&p futures. but it will be an...
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Aug 2, 2011
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at the moment, both fitch and moody's and s&p have said they will wait and see. see whether this really does create, say, 3 trillion or 4 trillion worth of cuts over the long term. it fit does do that, then things look more optimistic. however, if they determine that this deal does not really make serious -- i use the word serious -- cuts into the u.s. debt load, then they will downgrade. this is not about what happens today or next week or next month. this is about the long-term ability of the united states to deal with its debt problems. and when they decide to downgrade or if they decide or perhaps they decide to downgrade, they will be saying that not enough has been done. at the moment, i would put a pound to a penny, as we say, that they are going to sit on their hands for a bit longer. >> dow industrials right now, richard, i know you can't see the numbers, down 31 just after the opening bell. so what is your take? >> reporter: i take this as being that exactly what you and i talked about yesterday. the rally yesterday was an inch thick and a mile wide. a
at the moment, both fitch and moody's and s&p have said they will wait and see. see whether this really does create, say, 3 trillion or 4 trillion worth of cuts over the long term. it fit does do that, then things look more optimistic. however, if they determine that this deal does not really make serious -- i use the word serious -- cuts into the u.s. debt load, then they will downgrade. this is not about what happens today or next week or next month. this is about the long-term ability of...
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have their own rating systems in-house. this might impact the stock market. traders trade off deadline, they hit the button, maybe. i think s&p did us a favor by doing it over the weekend. we'll have two days talking about split ratings, look at moody's and fitch. kneel they'll that was by design as you reported -- >> neil: that was by design as you reported. >> i thought that was the time they would do it. [ talking over each other ] >> neil: thank you charlie. best business reporter on the planet. charlie gas reason know >> white house officials are -- scrambling to downplay the downgrade. we have ed henry. we only got one downgrade is senator harry reid asking for another? he's worried and he's next. kneel feel to the white house now where this downgrade -- >> neil: to the rite now where this downgrade did not come -- ed what are you hearing? >> reporter: there was a behind the scenes struggle yesterday afternoon and evening where the treasury department was trying to point out to s&p look you have a math error and you have overcounted two trillion in debt that the white house believed was overstating the problem. at the e
have their own rating systems in-house. this might impact the stock market. traders trade off deadline, they hit the button, maybe. i think s&p did us a favor by doing it over the weekend. we'll have two days talking about split ratings, look at moody's and fitch. kneel they'll that was by design as you reported -- >> neil: that was by design as you reported. >> i thought that was the time they would do it. [ talking over each other ] >> neil: thank you charlie. best...
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one s&p senior manager put this in an e-mail to another senior manager. "lord help our -- scam. this has to be the stupidest place i have worked at." s&p is the stupidest place everyone at s&p has ever worked at, and these two, john chambers and david bearce have now taken their places as the worst political pundits in our midst. >>> joining me now, professor at berkly, robert reich, also the author of "after shock," which is in paperback, thanks so much for joining me tonight, robert. >> good evening, lawrence. >> the standard & poor's rating, as i read it, is nothing but a political adjudication made by people who know nothing about politics and also happen to have an absolutely horrific track record at doing what they are supposed to be doing for a living. what am i missing here? >> i don't think you're missing anything. it's extraordinary. here we have standard & poor's charging in the political arena in a way that is so unique with regard to ratings agencies, granted, they did a lousy job on what they were supposed to do, that was rating lehman brothers and everything else on wall street, but when it comes to sover
one s&p senior manager put this in an e-mail to another senior manager. "lord help our -- scam. this has to be the stupidest place i have worked at." s&p is the stupidest place everyone at s&p has ever worked at, and these two, john chambers and david bearce have now taken their places as the worst political pundits in our midst. >>> joining me now, professor at berkly, robert reich, also the author of "after shock," which is in paperback, thanks so much...
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continue to protest against the west her supporters have set up a tent city in the center of the capital p. have she was arrested or contempt of court on friday and. has been on trial since june over alleged abuse of power while signing gas deals with russia in two thousand and nine these are all charges she denies supporters call the case politically orchestrated by the country's current president viktor bout in the court which the rallies began on friday when they tried to block the armored vehicle taking t.v. show away a bit were dispersed by police. more international news now in our world updater an artsy thirty one u.s. special forces personnel and seven afghan soldiers have all been killed in a helicopter crash in the eastern one and back province this according to the office of president karzai the incident marks the biggest single loss of life for american forces in the country by the taliban have claimed responsibility for saying they shot down the helicopter with a rocket propelled grenade. but syria's foreign minister has a pleasure free democratic general elections in the country by
continue to protest against the west her supporters have set up a tent city in the center of the capital p. have she was arrested or contempt of court on friday and. has been on trial since june over alleged abuse of power while signing gas deals with russia in two thousand and nine these are all charges she denies supporters call the case politically orchestrated by the country's current president viktor bout in the court which the rallies began on friday when they tried to block the armored...
SFGTV2: San Francisco Government Television
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Aug 2, 2011
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have already voted on, but if you care to address the board. >> we approved everything on it. chairman nolan: please, come forward. item p? we have approved it, but go ahead. >> item p says no left turn from eastbound 14th at church street. i dunno why that is being deleted or implemented. chairman nolan: do whatever you want, tell us what you want us to hear. >> i don't know why it is being proposed. >> i need the diagram, it is very complicated to explain. as you know, we have an ongoing program to improve pedestrian access and safety to reevaluate all of the crosswalks. we have an ongoing program to reevaluate all of the crosswalks that we have previously closed. to restore them wherever possible and enhance pedestrian safety as well as access. this is one of the few remaining ones on market street on the north side that if you go on the north sidewalk of a well on market street, it is actually closed. we are recommending that this crosswalk be reopened. but to do that, it entails a lot of complicated changes that goes along with it. when this gets removed, all three crosswalks will move together like a little scramble
have already voted on, but if you care to address the board. >> we approved everything on it. chairman nolan: please, come forward. item p? we have approved it, but go ahead. >> item p says no left turn from eastbound 14th at church street. i dunno why that is being deleted or implemented. chairman nolan: do whatever you want, tell us what you want us to hear. >> i don't know why it is being proposed. >> i need the diagram, it is very complicated to explain. as you know,...
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so democrats have exacerbated this situation completely and they were warned, bill. we've been listening to the s&p moody's warn about this downgrade. it shouldn't have come as a surprise. the go pment has done its part. it is laughable this is the tea party downgrade. the tea party is the only thing trying to save us from this. the budget that was proposed and passed in the house by republicans and supported by the tea party, s&p said would have prevented this downgrade. so look, this is the obama downgrade. the democrats drove this through cash for clunkers, the stimulus, t.a.r.p., and omabacare, notably and his budget, the only thing that the democrats have proposed, the senate voted down obama's budget which would have increased decifits to a whopping $10 trillion, over the next ten years. so look, democrats have no plan on this. what is shocking, too, bill, s&p says we might expect another one soon. bill: that's a possibility, they said, down the road. i hear bob breathing on the other line there. >> shocking! bill: what's up, bob? >> first of all, good morning everybody. and andrea, as usual,
so democrats have exacerbated this situation completely and they were warned, bill. we've been listening to the s&p moody's warn about this downgrade. it shouldn't have come as a surprise. the go pment has done its part. it is laughable this is the tea party downgrade. the tea party is the only thing trying to save us from this. the budget that was proposed and passed in the house by republicans and supported by the tea party, s&p said would have prevented this downgrade. so look, this...
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having me. >> why did s&p downgrade the united states credit rating today? >> two reasons. the one that you outlined, from our view, the political settings in the united states have been altered. we've taken them and the political brinkmanship was something that was really beyond getting to the last day before they had cash management problems. there are very few governments that have the debt authorization process and we also think more broadly that this debate has shown that although we do have an agreement that will and we do believe will deliver at least $2.1 2ri8 general of savings over the next decade is going to be difficult to get beyond that at least in the near term and you do need to get beyond that to get to a point where the debt to gdp ratio is going to stabilize. >> so it's interesting, you're saying without a doubt, the recent road blocks in congress, the tenure, the timing, the tone of the debate had a major impact on this? >> yes. i think that's what put things over the brink. in addition, we have a medium term fiscal forecast that we see, you know, the deb
having me. >> why did s&p downgrade the united states credit rating today? >> two reasons. the one that you outlined, from our view, the political settings in the united states have been altered. we've taken them and the political brinkmanship was something that was really beyond getting to the last day before they had cash management problems. there are very few governments that have the debt authorization process and we also think more broadly that this debate has shown that...
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>> shepard: mike, as we have seen, credit rating agencies, including s&p have the power to move the marketsey have also taken a lot of heat in recent years for the way they conduct their business. with some economists blaming them for failing to prevent the financial meltdown of 2008 certainly didn't predict it trace gallagher live in our west coast news hub. explain how these work for us. >> just like we have an individual credit score that show what kind of a lending risk we are. moody's and fitch and standard and poor's rate companies and countries. the better the rating, the more app. people are to invest in those countries. the countries and cheaper they can borrow money. s&p is saying america is a higher risk today than it was last week. that doesn't meent u.s. will automatically pay a higher interest rate but it likely will experts say down the line. that means many states will hi also pay higher interest rates and many cities as well. when it comes right down to it, shep, that means we will all end up paying higher interest rates on mortgages and credit cards and the like. >> shepar
>> shepard: mike, as we have seen, credit rating agencies, including s&p have the power to move the marketsey have also taken a lot of heat in recent years for the way they conduct their business. with some economists blaming them for failing to prevent the financial meltdown of 2008 certainly didn't predict it trace gallagher live in our west coast news hub. explain how these work for us. >> just like we have an individual credit score that show what kind of a lending risk we...
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and p. have said throughout this debate in washington that the u.s. has aaa credit rating may still be downgraded even if there is a deal reached who benefits who could possibly benefit from that well financial analyst max kaiser says this may be exactly what bankers on wall street crave he laid out that case today earlier with our teens kevin owen most of the economy in america over fifty percent of the economy is tied to investment banking and wall street trading so they control the g.d.p. for them to continue to make money they need to look for new business new revenue is turning america's aaa rating to junk will make many many billions of dollars in fees it's just simple economics and simple business just follow the money but if everyone can see that it's just piling debts on the debt how the american public by the seeds dealing with this or the american public is having their worth decimated by wall street banks j.p. morgan and goldman sachs are two americas little class what the flow bill was to the buffalo population in america they're interest
and p. have said throughout this debate in washington that the u.s. has aaa credit rating may still be downgraded even if there is a deal reached who benefits who could possibly benefit from that well financial analyst max kaiser says this may be exactly what bankers on wall street crave he laid out that case today earlier with our teens kevin owen most of the economy in america over fifty percent of the economy is tied to investment banking and wall street trading so they control the g.d.p....
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>> if we were to have this discussion two weeks ago, by the way, when s&p and others threatened to downgrade. if we had had this discussion then, i would have said a couple of weeks ago, this is a silly discussion. there's a pin prick of reason in this you kind of circled around. we have prominent republicans, mitch mcconnell, rob porkman, representative paul ryan, some of the most prominent republicans are saying for now on, what happened with the debt ceiling should be a template for every other debt ceiling increase we have and we should have a dollar for dollar rule, every dollar of debt ceiling increase means a dollar of spending cuts. basically, they want to enshrine dysfunctionalty in our system and i can see where s&p would raise an eyebrow. we are still a completely reliable borrower, the united states government, so the downgrade was wrong, math was ridiculous, all that, but that one point maintains. >> that is politically devastating assessment. devastating coming from the ratings agency, devastating if the political world wakes up to that being the message here. a lot of whether
>> if we were to have this discussion two weeks ago, by the way, when s&p and others threatened to downgrade. if we had had this discussion then, i would have said a couple of weeks ago, this is a silly discussion. there's a pin prick of reason in this you kind of circled around. we have prominent republicans, mitch mcconnell, rob porkman, representative paul ryan, some of the most prominent republicans are saying for now on, what happened with the debt ceiling should be a template...
SFGTV: San Francisco Government Television
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Aug 25, 2011
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have already voted on, but if you care to address the board. >> we approved everything on it. chairman nolan: please, come forward. item p? we have approved it, but go ahead. >> item p says no left turn from eastbound 14th at church street. i dunno why that is being deleted or implemented. chairman nolan: do whatever you want, tell us what you want us to hear. >> i don't know why it is being proposed. >> i need the diagram, it is very complicated to explain. as you know,
have already voted on, but if you care to address the board. >> we approved everything on it. chairman nolan: please, come forward. item p? we have approved it, but go ahead. >> item p says no left turn from eastbound 14th at church street. i dunno why that is being deleted or implemented. chairman nolan: do whatever you want, tell us what you want us to hear. >> i don't know why it is being proposed. >> i need the diagram, it is very complicated to explain. as you know,
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have not followed them. at this point it's kind of a bad -- this proved bad for s&p brands. ides attacking them. they're fighting back. i think for moody's and fitch, they are happy to sit on the sidelines and see all of these air res flung at their competitive. >> now the onus is on us, the u.s., to retain that aaa rating? get it back. >> two things. obama gave the speech about the need to compromise talking about process. we need declarative statements from s&p. what does it take to get that rating back? what number are we talking about divided between taxes and cuts by what date? president obama should come out and say, talked about i'm going to talk with my advisers. form this committee. they know what you can do to bring the deficit over control in ten year. come out way plan tomorrow. congressional republicans, passeded ryan budget. didn't go anywhere. they should declare, is this our plan for long-term goethe? if so how do the get the senate and white house to sign on to it or just wait until 2012. and the federal reserve, having a big meeting tomorrow, they should be
have not followed them. at this point it's kind of a bad -- this proved bad for s&p brands. ides attacking them. they're fighting back. i think for moody's and fitch, they are happy to sit on the sidelines and see all of these air res flung at their competitive. >> now the onus is on us, the u.s., to retain that aaa rating? get it back. >> two things. obama gave the speech about the need to compromise talking about process. we need declarative statements from s&p. what does...
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p. last weekend, with all of the wrangling over the debt ceiling and last-minute deal that was ultimately cut, it may haveers on how america's politics played into the s&p's decision making and how the downgrade to have been avoided. >> i think it could have done a few things. the first thing it could have done is raise the debt ceiling in a timely manner so much of the debate could have been avoided to begin with. as it had done 60 or 70 times since 1960. that is point number one. point number two, it could have come up with a fiscal plan, similar to the bull simpson commission, which was bipartisan. although it did not have a supermajority vote. it had a majority vote. it came up with a number of recommendations. that would have been a start. >> the bull simpson commission that chambers talked about was the panel set up by president obama to identify ways to reduce the national deficit. now the super committee created by the debt deal in congress will identify ways to bring down the deficit. athena jones is live in washington with more on this. this rating changes puts more pressure on congress. on both
p. last weekend, with all of the wrangling over the debt ceiling and last-minute deal that was ultimately cut, it may haveers on how america's politics played into the s&p's decision making and how the downgrade to have been avoided. >> i think it could have done a few things. the first thing it could have done is raise the debt ceiling in a timely manner so much of the debate could have been avoided to begin with. as it had done 60 or 70 times since 1960. that is point number one....
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if you have painful, swollen joints, i've been in your shoes. one day i'm on p of the world... have this thing called psoriatic arthritis. i had some intense pain. it progressively got worse. my rheumatologist told me about enbrel. i'm surprid how quickly my symoms have beemanaged. [ male announcer ] because enbrel suppresses your immune system, it may lower your ability to fight infections. serious, sometimes fatal events including infections, tuberculosis, lymphoma, other cancers, and nervo system and blood disorders have occurred. before starting enbrel, your doctor should test you for tuberculosis and discuss whetr you've been to a region where certain fungal infections are common. don't start enbrel if you have an infection like the flu. tell your doctor if you're prone to infections, have cuts or sores, have had hepatitis b, have beetreated for heart failure, or if, while on enbrel, you experience persistent fever, bruising, bleeding, or paleness. get back to the things that matter most. good job girls. ask your rheumatologist if enbrel is right for you. at exxon and mobi
if you have painful, swollen joints, i've been in your shoes. one day i'm on p of the world... have this thing called psoriatic arthritis. i had some intense pain. it progressively got worse. my rheumatologist told me about enbrel. i'm surprid how quickly my symoms have beemanaged. [ male announcer ] because enbrel suppresses your immune system, it may lower your ability to fight infections. serious, sometimes fatal events including infections, tuberculosis, lymphoma, other cancers, and nervo...
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p has additional downgrades. they say all of these debts have exposed economics and stability. let's take a closer look at what is happening on wall street since the news came out. stocks are down 3 and 58 points to 11,084. her excuse me, 360 points just about. officials at s&p will indicate where how local kids stay government will be affected. as we take a look at what is happening on wall street, the markets have closed. they're now at their lowest level in more than 14 years sinking below the 1000 mark. we are not doing so well. global markets are definitely having an impact on what is happening on wall street this morning. >> let's go to robert heller, he is joining us live on the phone this morning from the board of governors. >> good morning. >> what you think about what is going on >> right >> these are exciting days, obviously. s&p downgrade was expected. the federal deficit has been growing rapidly over the last couple of years. over the next couple of years we will continue to see a large deficit. if we keep spending like that, our credit rating will be down. >> even
p has additional downgrades. they say all of these debts have exposed economics and stability. let's take a closer look at what is happening on wall street since the news came out. stocks are down 3 and 58 points to 11,084. her excuse me, 360 points just about. officials at s&p will indicate where how local kids stay government will be affected. as we take a look at what is happening on wall street, the markets have closed. they're now at their lowest level in more than 14 years sinking...
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p. let's take a look at the countries that have aaa ratings from s&p. tralia, austria, canada, denmark, finland, france, germany, netherlands, norway, singapore, sweden, united kingdom and switzerland. we'll show you which countries have the aa+ rating along with the united states now. 38 minutes after the hour. >>> this is your "a.m. wake-up call." back to our get smart question. we showed you the country's with aaa ratings by s&p. let's take a look at s&p's aa+ countries. the united states a new member of this club. new zealand and belgium exist in that environment. curious about a double dip recession, we've been talking about that possibility with the bad economic news we've been getting lately. it's not a done deal. i'm going to let jay leno do the explapg on this one. >> a lot of talk about the possibility of a double-dip recession. some people -- do you know what that is? maybe this will help. >> and now a video met fa for for a double dup recession. this overturned car carriers represents the struggling u.s. economy. the cars inside are the ameri
p. let's take a look at the countries that have aaa ratings from s&p. tralia, austria, canada, denmark, finland, france, germany, netherlands, norway, singapore, sweden, united kingdom and switzerland. we'll show you which countries have the aa+ rating along with the united states now. 38 minutes after the hour. >>> this is your "a.m. wake-up call." back to our get smart question. we showed you the country's with aaa ratings by s&p. let's take a look at s&p's aa+...
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Aug 8, 2011
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the s&p have take an lot of heat for their action. the head of the ratings agency says if the u.s.an up its fiscal act soon it could be downgrading america's credit rating again as soon as within six months and then we have treasury secretary timothy geitner immediately attacking the s&p for the decision and he acknowledged that partisan bickering in washington did not help but says the rating agency had no solid basis for its downgrade, and before the u.s. downgrade this weekend, you will remember the dow took a huge hit last thursday losing 500 points partly over debt concerns in europe, and now we've got the european central bank saying they will implement a bond purchasing program to prop up italy and spain's shaky economies and timothy geitner talked with the g7 leaders pledging to cooperate this weekend. that will hopefully soften the blow a bit today. but so far, we're seeing a bit of a slide on the market. >> can you tell our viewers just waking up, i know the nikeii is down, and the hang seng is done and europe is down, across the board, it was a very tough day today, wasn
the s&p have take an lot of heat for their action. the head of the ratings agency says if the u.s.an up its fiscal act soon it could be downgrading america's credit rating again as soon as within six months and then we have treasury secretary timothy geitner immediately attacking the s&p for the decision and he acknowledged that partisan bickering in washington did not help but says the rating agency had no solid basis for its downgrade, and before the u.s. downgrade this weekend, you...
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Aug 9, 2011
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unemployment will go up, and the reductions in the unfunded mandates is the key, and the pressure that the s&p have put on the congress will make them do some hasty decisions to undo the economy. >> thank you, ron insana and ezra klein. >>> and now a national manhunt for three siblings. they shot at a police officer trying to the pull them over for speeding in florida before fleeing to georgia where they robbed a bank. the officer's dash cam catches the trio and later while in pursuit the cop radios back that he has been fired on. >> fired several more shops at me. >> and they have a flat tire, too. >> seems i will not be able to keep up with him, because i can't go much farther. >> cliff van zandt is a former fbi profiler and msnbc contributor. you used to work in the atlanta office so what are they doing right now to actively track down the three fugitive siblings. >> well, a combination of the fbi and the police efforts and using bulletin boards and credit cards and relying on the public. these are the three best known pictures in america right now of fugitives. i would suggest that anyone who s
unemployment will go up, and the reductions in the unfunded mandates is the key, and the pressure that the s&p have put on the congress will make them do some hasty decisions to undo the economy. >> thank you, ron insana and ezra klein. >>> and now a national manhunt for three siblings. they shot at a police officer trying to the pull them over for speeding in florida before fleeing to georgia where they robbed a bank. the officer's dash cam catches the trio and later while...
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Aug 5, 2011
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if you have painful, swollen joints, i've been in your shoes. one day i'm on p of the world... ng... i have this thing called psoriatic arthritis. i had some intense pain. it progressively got worse. my rheumatologist told me about enbrel. i'm surprised how quickly my symptoms have been managed. [ male announcer ] because enbrel suppresses your immune system, it may lower your ability to fight infections. serious, sometimes fatal events including infections, tuberculosis, lymphoma, other cancers, and nervous system and blood disorders have occurred. before starting enbrel, your doctor should test you for tuberculosis and discuss whether you've been to a region where certain fungal infections are common. don't start enbrel if you have an infection like the flu. tell your doctor if you're prone to infections, have cuts or sores, have had hepatitis b, have been treated for heart failure, or if, while on enbrel, you experience persistent fever, bruising, bleeding, or paleness. get back to the things that matter most. good job girls. ask your rheumatologist if enbrel is right for you
if you have painful, swollen joints, i've been in your shoes. one day i'm on p of the world... ng... i have this thing called psoriatic arthritis. i had some intense pain. it progressively got worse. my rheumatologist told me about enbrel. i'm surprised how quickly my symptoms have been managed. [ male announcer ] because enbrel suppresses your immune system, it may lower your ability to fight infections. serious, sometimes fatal events including infections, tuberculosis, lymphoma, other...
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Aug 8, 2011
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p. look at what happened with the conversation with goulsby. >> they made a $2 trillion math error and forgot to check their work. so the agencies that didn't reaffirm the 2 trillion error -- >> they have shown a stunning lack of knowledge about basic u.s. fiscal budget mess. >> s&p would have forfeited its good reputation if it add good reputation to forfeit these days. >> a glimmer after coalition coming together. you have geithner and will agreeing that s&p is questionable at best. what do you think? some people are even suggesting that there is some politics in how the s&p came with this downgrade. >> one thing i think for sure is their name is only half right. they don't have very high standards and their performance is poor. look, they made $2 trillion error which is the exact amount they say the deficit deal or debt reduction deal fell short. when the government pointed that out to them, they said, oh, no, we have a rational. they had a conclusion before an argument and they had an argument to is you sustain the conclusion they wanted to make. these are the exact same people who gave aaa rating to junk bonds and helped contribute to the whole crash under 2008. they have a gig im
p. look at what happened with the conversation with goulsby. >> they made a $2 trillion math error and forgot to check their work. so the agencies that didn't reaffirm the 2 trillion error -- >> they have shown a stunning lack of knowledge about basic u.s. fiscal budget mess. >> s&p would have forfeited its good reputation if it add good reputation to forfeit these days. >> a glimmer after coalition coming together. you have geithner and will agreeing that s&p is...
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Aug 9, 2011
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we have to get our debt down p no doubt. head of the s&p who i spoke to today said off camera, granted but he did say if we had some sort of balanced budget amendment to the contusion where were weren't adding to the debt we wouldn't have been downgraded this isn't a partisan statement. this is the s&p trying to flex a little muscle. >> s&p has all kinds of problems not just the mortgage meltdown where they whiffed on the issue of mortgage investments. didn't know what was going on. do you remember world come? do you remember enron? these were stocks that s&p loved. i have to tell you, they are on target here. we have major problems that we need to fix and get serious about. unfortunately, i don't see very many people coming to the table with serious proposals. only a handful. >> here's the problem. you talk about -- you began by talking about debt to gdp ratios. you can come up with bad numbers for greece, portugal and iceland and the rest of it. they don't involve trillions. the scale of potential disaster with the united
we have to get our debt down p no doubt. head of the s&p who i spoke to today said off camera, granted but he did say if we had some sort of balanced budget amendment to the contusion where were weren't adding to the debt we wouldn't have been downgraded this isn't a partisan statement. this is the s&p trying to flex a little muscle. >> s&p has all kinds of problems not just the mortgage meltdown where they whiffed on the issue of mortgage investments. didn't know what was...
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Aug 16, 2011
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piece of news that just came out minutes ago is that fish, the rating agency, like moody's and s&p have actually come out and reaffirmed the united states aaa rating nap actually may ease fears that some of the other rating agencies would follow s&p's suit and that may also weigh on the markets today. >> and anything about the stuff domestically here today, and any comment about how the markets might react to rick perry's sort of threat to ben bernanke? >> yeah. i'm not sure that's actually going to move the needle. you know, politics at the moment, i don't think, is actually going to change the game. i think people are focused today -- walmart out with earnings. home depot out with earnings both bet tlaern expected. so that could give a little bit of energy to things, but, really, i think that the story is europe. i think the continued sort of what they call headline risk, wake you up in the morning seeing what's happening there, that's what the overhang is, and until europe solves its problem, if and when, sochls its problem, i think we're going to be sort of going sideways for a whil
piece of news that just came out minutes ago is that fish, the rating agency, like moody's and s&p have actually come out and reaffirmed the united states aaa rating nap actually may ease fears that some of the other rating agencies would follow s&p's suit and that may also weigh on the markets today. >> and anything about the stuff domestically here today, and any comment about how the markets might react to rick perry's sort of threat to ben bernanke? >> yeah. i'm not sure...
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Aug 24, 2011
08/11
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do they only have s&p and its parent company, mcgraw-hill, pay damages? y also named individuals? a common thread we have seen is that they do not name executives at the company for the most part. that kind of lets individuals walk away from this mess that we all went through. host: explain the relationship between s&p and mcgraw-hill. guest: s&p is a division of mcgraw-hill. mcgraw-hill has been under heat from shareholders lately. some large shareholders what the company to spin off in pieces, with their education business and their education -- and their ratings business. also in the news recently has been that the president of s&p, who you might have seen in some of those hearings, he is stepping aside. they will have a new leader of s&p -- doug peterson. he comes from citibank. he has had a lot of experience working with regulators. he oversaw citibank, the japan division during a very intense and political time with japan and citigroup. some people say they are bringing in this dog peterson to s&p so he can better -- doug peterson to s&p so he can be
do they only have s&p and its parent company, mcgraw-hill, pay damages? y also named individuals? a common thread we have seen is that they do not name executives at the company for the most part. that kind of lets individuals walk away from this mess that we all went through. host: explain the relationship between s&p and mcgraw-hill. guest: s&p is a division of mcgraw-hill. mcgraw-hill has been under heat from shareholders lately. some large shareholders what the company to spin...
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Aug 6, 2011
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thank you for writing it and coming on us w us. >> you're welcome, alex. >>> we have yet to hear from the white house about the s&pe, but we'll have more on the potential impact this downgrade may have on the economy and the battle for the white house as well as your wallets. stay with us because you're watching msnbc saturday. discover customersl are getting five percent cashback bonus at the pump... and at many of the places their summer plans take them. it pays to switch, it pays to discover. excuse me? my grandfather was born in this village. [ automated voice speaks foreign language ] [ male announcer ] in here, everyone speaks the same language. ♪ in here, forklifts drive themselves. no, he doesn't have it. yeah, we'll look on that. [ male announcer ] in here, friends leave you messages written in the air. that's it right there. [ male announcer ] it's the at&t network. and what's possible in here is almost impossible to say. and replace your old mayo [[ female announcer ] it's time to raise the bar with the full flavor of kraft mayo with olive oil. ♪ made with half the fat and calories of hellmann's real ma
thank you for writing it and coming on us w us. >> you're welcome, alex. >>> we have yet to hear from the white house about the s&pe, but we'll have more on the potential impact this downgrade may have on the economy and the battle for the white house as well as your wallets. stay with us because you're watching msnbc saturday. discover customersl are getting five percent cashback bonus at the pump... and at many of the places their summer plans take them. it pays to switch,...
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Aug 8, 2011
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s&p wanted to see $4 trillion in cuts. we have not heard from the president publicly on this issue but the treasury secretary was out this weekend and he says this was -- this decision by s&p showed terrible judgment on their part. he said it was based on flawed math and so we will wait to see from -- and hear from the rest of the administration. the treasury secretary did take part last night in an emergency phone call with the finance leaders from other g-7 countries. the at this point, they're pledging to do whatever they need to keep it stable. tim geithner says he'll be staying on the job at the president's request. >> a lot of people are waking up and holding their hands to their eyes because they don't want to look at the stock market. they're wondering what it means for their 401k's or even if they're mildly invested in the stock market. what do we know? >> you know, that's -- i would say reaction is really split on that. there are some people say this is bound to lead to a rise in interest rates for home mortgages, car lo
s&p wanted to see $4 trillion in cuts. we have not heard from the president publicly on this issue but the treasury secretary was out this weekend and he says this was -- this decision by s&p showed terrible judgment on their part. he said it was based on flawed math and so we will wait to see from -- and hear from the rest of the administration. the treasury secretary did take part last night in an emergency phone call with the finance leaders from other g-7 countries. the at this...
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Aug 2, 2011
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we've yet to hear from s&p, we have yet to hear from moody's. do you know when we'll hear?hen we will know. >> fitch made a decision and it's actually good news. i've got some good news. fitch says it's going to hold -- yeah, can you believe it? it says it's going to hold the u.s. credit rating at aaa even though there are still a lot of issues to work out. some are saying, you know, a downgrade by standard & poors is still inevitable. s&p has been the most vocal agency in all of this. if this happened, it would be a big deal. it could raise the nation's borrowing costs and the borrowing costs for businesses and consumers as well, and that would, of course, be an even further drag on an already very weak economy that's already having trouble picking up steam. we don't need that, but of course, we're going to keep an eye on it. brooke? >> thank you so much. listen, if you hang out in washington long enough, you will catch a glimpse of some bigwigs. but a marine scored an ini havation to breakfast with the vice president. joe johns has the scoop in our "political pop" next. w
we've yet to hear from s&p, we have yet to hear from moody's. do you know when we'll hear?hen we will know. >> fitch made a decision and it's actually good news. i've got some good news. fitch says it's going to hold -- yeah, can you believe it? it says it's going to hold the u.s. credit rating at aaa even though there are still a lot of issues to work out. some are saying, you know, a downgrade by standard & poors is still inevitable. s&p has been the most vocal agency in all...
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Aug 29, 2011
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we have p hiple in ten states in washington, d.c. in support of the state local municipalities recording the efforts in the region. each of them have different announcements they have been macing i haven't tracked them all. >> we will look up everything. hopefulwl p hiple can start geseting their lives back to normal. public officials can talk to gou. north carolina probably sptrferd the worst of any state certainly in terms of fatalities all of the way up into new en whoand. continuing our special live coverage after this. stand by., hi, anne. how are you doing? hi, evelyn. i know it's been a difficult time since your mom passed away. yeah. i miss her a lot, but i'm okay. wow. that was fast. this is the check i've been waiting for. mom had a guaranteed acceptance life insurance policy through the colonial penn program, and this will really help with the cost of her final expenses. they have been so helpful and supportive during this time. maybe i should give them a call. i really could use some more life insurance. is it affordable?
we have p hiple in ten states in washington, d.c. in support of the state local municipalities recording the efforts in the region. each of them have different announcements they have been macing i haven't tracked them all. >> we will look up everything. hopefulwl p hiple can start geseting their lives back to normal. public officials can talk to gou. north carolina probably sptrferd the worst of any state certainly in terms of fatalities all of the way up into new en whoand. continuing...
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firstly, how would you have stopped s&p from effecting the downgrade? surely that would have been impossible to stop them from doing the downgrade? and after what john mccain said yesterday, does anybody believe that s&p was wrong on their assessment of the u.s. economy? >> well, i actually think what s&p did was wrong, and i think they did it for a lot of other reasons, richard. i think you probably feel that also. i think what they did was disgrateful. we have a bad economy and things are not going well, and we are a dysfunctional, and the president himself said it, and we have become a dysfunctional nation. but somebody should have really put the clamps on s&p, at least by going and talking and doing whatever they had to do. that doesn't mean they would have been able to stop them, but something should have happened. and at a minimum, a better deal should have been made so s&p couldn't have gotten away with their nonsense. >> we'll leave it there. donald trump, it was nice of you to join us as we set the stage for the president of the united states. a
firstly, how would you have stopped s&p from effecting the downgrade? surely that would have been impossible to stop them from doing the downgrade? and after what john mccain said yesterday, does anybody believe that s&p was wrong on their assessment of the u.s. economy? >> well, i actually think what s&p did was wrong, and i think they did it for a lot of other reasons, richard. i think you probably feel that also. i think what they did was disgrateful. we have a bad economy...