Saturday, August 06, 2011

What the U.S. Losing Its Credit Rating Means, An Example of How (In Part) Our Nation Got Here, and What Is the U.S.'s Next Step

We all know this is terribly important for all of us nonprofit sector volunteers, clients, members, donors, staff, and consultants to understand - what has just happened to our nation's economic standing:

Wall Street Closes Worst Week Since '08

United States Loses Prized AAA Credit Rating From S&P

Explanation of the lowering of the U.S.'s credit rating by Standard and Poors (or "S&P"), United States of America Long-Term Rating Lowered To 'AA+' Due To Political Risks, Rising Debt Burden; Outlook Negative

Standard & Poors explanation of what credit ratings are and how they work: Standard & Poors Guide to Credit Rating Essentials

What to do if your bank fails, by the Federal Deposit Insurance Corporation (FDIC) When A Bank Fails - Facts for Depositors, Creditors, and Borrowers

An example of how, in part, our nation arrived in this situation (note: "WaMu" is an acronyms for the former bank, Washington Mutual, which Chase bank acquired):

Part One  Reckless Strategies Doomed WaMu

Part Two WaMu Hometown Bank Turned Predatory

and the incredible fall out of WaMu's business practices?

WaMu Execs Won't Face Criminal Charges, Justice Department Says

(sidebar: yes, this call by the Justice Department bothers me - I will be contacting my federal representation to let them know so)

and going forward...

AP Source: G7 To Discuss Central Bank Action

G7 Major Powers to Confer On Major Markets Crisis: Source

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