http://news.linktv.org Link TV News Videos (Filtered by topics: Credit rating) en-us Fri, 22 Jun 2012 11:33:00 -0700 Copyright 2011 Link Media, Inc. http://news.linktv.org/videos/democracy-now-june-22-2012?start=104 In the first hearing of its kind, a Senate panel heard testimony this week on the psychological and human rights implications of solitary confinement in US prisons. In a rare interview, former Texas death row prisoner Anthony Graves joins Democracy Now! to recount his experience in solitary confinement and how he was fully exonerated and released. And the 2012 presidential election is set to become the most expensive race in history, so will it be decided by the secret spending of the super-rich? Plus headlines, and more. Fri, 22 Jun 2012 11:33:00 -0700 http://news.linktv.org/videos/democracy-now-june-22-2012 Solitary confinement, Incarceration in the United States, United States, US Senate, Anthony Graves, United States Senate Judiciary Subcommittee on the Constitution, Civil Rights and Human Rights, Dick Durbin, Prison, James Ridgeway, Prisoner abuse Credit agency Moody's has downgraded the credit ratings of 15 of the world’s biggest banks, saying all are at risk of major losses. The downgraded banks include Morgan Stanley, Citigroup, Goldman Sachs, Bank of America, Deutsche Bank, Credit Suisse and JPMorgan Chase, which recently lost $3 billion on risky bets. In a statement, a Moody's executive said the banks "have significant exposure to the volatility and risk of outsized losses inherent to capital market activities." http://news.linktv.org/videos/spain-record-unemployment-as-economic-crisis-deepens?start=0 More people are out of work in Spain now than at any time since records began, with almost a quarter of the workforce unemployed. This, just a day after Standard and Poor's cut the country's credit rating, and warned of worse to come. Fri, 27 Apr 2012 08:16:00 -0700 http://news.linktv.org/videos/spain-record-unemployment-as-economic-crisis-deepens Spain, Unemployment, European sovereign debt crisis, Economy of Spain, Austerity, Credit rating, Standard & Poor's, Eurozone, Bailout, 2011-2013 Spanish Protests More people are out of work in Spain now than at any time since records began. The new figures, announced on Friday, show that almost a quarter of the workforce are now unemployed. It comes just a day after ratings agency Standard and Poor's cut the country's credit rating two notches to Class B. with warnings that the country's economy could get worse. Al Jazeera's Sonia Gallego reports now from Madrid. http://news.linktv.org/videos/asian-markets-hit-by-volatility?start=0 The US debt crisis struck a nerve among global investors this week, resulting in chaos on the Asian stock markets (footage from Reuters). Fri, 12 Aug 2011 17:40:00 -0700 http://news.linktv.org/videos/asian-markets-hit-by-volatility Stock market, Credit rating, Nikkei, Hang Seng, Shanghai composite index, Kospi, Korea Exchange, Tokyo Stock Exchange, Shanghai Stock Exchange, Hong Kong Stock Exchange The American debt crisis strikes a nerve among global investors, resulting in chaos on the Asian stock markets (footage from Reuters). ---- Last week, the United States was downgraded by a credit ratings agency for the first time in the country’s history, stoking fears that the US economy may be heading towards another recession. The downgrade sparked a sharp selloff in American stocks. But the carnage didn’t stop there, as markets in Asia were also pummeled. Hardest hit were the countries that depend on American consumers to buy many of their exports. Just take a look what happened to the big four stock markets in Asia -- Tokyo, Hong Kong, Shanghai, and Seoul. They went on a roller coaster ride, reacting to bits of news out of Washington or Wall Street. http://news.linktv.org/videos/raw-video-president-obamas-statement-on-credit-downgrade?start=0 Raw video: the US President assures Americans that, "we will always be a triple-A country." Mon, 08 Aug 2011 13:51:00 -0700 http://news.linktv.org/videos/raw-video-president-obamas-statement-on-credit-downgrade Barack Obama, Credit rating agency, Standard & Poor's, US economy, Credit rating, Bond credit rating, Politics of the United States, Economic growth, World economy, White House The President assures Americans that, "we will always be a triple-A country." PRESIDENT Obama: Good afternoon, everybody. On Friday, we learned that the United States received a downgrade by one of the credit rating agencies -- not so much because they doubt our ability to pay our debt if we make good decisions, but because after witnessing a month of wrangling over raising the debt ceiling, they doubted our political system’s ability to act. The markets, on the other hand, continue to believe our credit status is AAA. In fact, Warren Buffett, who knows a thing or two about good investments, said, “If there were a quadruple-A rating, I’d give the United States that.” I, and most of the world’s investors, agree. That doesn’t mean we don’t have a problem. The fact is, we didn’t need a rating agency to tell us that we need a balanced, long-term approach to deficit reduction. That was true last week. That was true last year. That was true the day I took office. And we didn’t need a rating agency to tell us that the gridlock in Washington over the last several months has not been constructive, to say the least. We knew from the outset that a prolonged debate over the debt ceiling -- a debate where the threat of default was used as a bargaining chip -- could do enormous damage to our economy and the world’s. That threat, coming after a string of economic disruptions in Europe, Japan and the Middle East, has now roiled the markets and dampened consumer confidence and slowed the pace of recovery. So all of this is a legitimate source of concern. But here’s the good news: Our problems are eminently solvable.* And we know what we have to do to solve them. With respect to debt, our problem is not confidence in our credit -- the markets continue to reaffirm our credit as among the world’s safest. Our challenge is the need to tackle our deficits over the long term. Last week, we reached an agreement that will make historic cuts to defense and domestic spending. But there’s not much further we can cut in either of those categories. What we need to do now is combine those spending cuts with two additional steps: tax reform that will ask those who can afford it to pay their fair share and modest adjustments to health care programs like Medicare. Making these reforms doesn’t require any radical steps. What it does require is common sense and compromise. There are plenty of good ideas about how to achieve long-term deficit reduction that doesn’t hamper economic growth right now. Republicans and Democrats on the bipartisan fiscal commission that I set up put forth good proposals. Republicans and Democrats in the Senate’s Gang of Six came up with some good proposals. John Boehner and I came up with some good proposals when we came close to agreeing on a grand bargain. So it’s not a lack of plans or policies that’s the problem here. It’s a lack of political will in Washington. It’s the insistence on drawing lines in the sand, a refusal to put what’s best for the country ahead of self-interest or party or ideology. And that’s what we need to change. I realize that after what we just went through, there’s some skepticism that Republicans and Democrats on the so-called super committee, this joint committee that’s been set up, will be able to reach a compromise, but my hope is that Friday’s news will give us a renewed sense of urgency. I intend to present my own recommendations over the coming weeks on how we should proceed. And that committee will have this administration’s full cooperation. And I assure you, we will stay on it until we get the job done. Of course, as worrisome as the issues of debt and deficits may be, the most immediate concern of most Americans, and of concern to the marketplace as well, is the issue of jobs and the slow pace of recovery coming out of the worst recession in our lifetimes. And the good news here is that by coming together to deal with the long-term debt challenge, we would have more room to implement key proposals that can get the economy to grow faster. Specifically, we should extend the payroll tax cut as soon as possible, so that workers have more money in their paychecks next year and businesses have more customers next year. We should continue to make sure that if you’re one of the millions of Americans who’s out there looking for a job, you can get the unemployment insurance that your tax dollars contributed to. That will also put money in people’s pockets and more customers in stores. In fact, if Congress fails to extend the payroll tax cut and the unemployment insurance benefits that I’ve called for, it could mean 1 million fewer jobs and half a percent less growth. This is something we can do immediately, something we can do as soon as Congress gets back. We should also help companies that want to repair our roads and bridges and airports, so that thousands of construction workers who’ve been without a job for the last few years can get a paycheck again. That will also help to spur economic growth. These aren’t Democratic proposals. These aren’t big government proposals. These are all ideas that traditionally Republicans have agreed to, have agreed to countless times in the past. There’s no reason we shouldn’t act on them now. None. I know we’re going through a tough time right now. We’ve been going through a tough time for the last two and a half years. And I know a lot of people are worried about the future. But here’s what I also know: There will always be economic factors that we can’t control –- earthquakes, spikes in oil prices, slowdowns in other parts of the world. But how we respond to those tests -- that’s entirely up to us. Markets will rise and fall, but this is the United States of America. No matter what some agency may say, we’ve always been and always will be a AAA country. For all of the challenges we face, we continue to have the best universities, some of the most productive workers, the most innovative companies, the most adventurous entrepreneurs on Earth. What sets us apart is that we’ve always not just had the capacity, but also the will to act -- the determination to shape our future; the willingness in our democracy to work out our differences in a sensible way and to move forward, not just for this generation but for the next generation. And we’re going to need to summon that spirit today. The American people have been through so much over the last few years, dealing with the worst recession, the biggest financial crisis since the 1930s, and they’ve done it with grace. And they’re working so hard to raise their families, and all they ask is that we work just as hard, here in this town, to make their lives a little easier. That’s not too much to ask. And ultimately, the reason I am so hopeful about our future -- the reason I have faith in these United States of America -- is because of the American people. It’s because of their perseverance, and their courage, and their willingness to shoulder the burdens we face -– together, as one nation. http://news.linktv.org/videos/shares-slide-amid-global-economic-fears?start=0 The world's financial markets remain extremely volatile after Standard & Poor's downgrade of the US credit rating on Friday and the European Central Bank decision Monday to buy Spanish and Italian government bonds to try to stop the European debt crisis from spreading. Mon, 08 Aug 2011 08:32:00 -0700 http://news.linktv.org/videos/shares-slide-amid-global-economic-fears Standard & Poor's, European Central Bank, Credit rating, World economy, European sovereign debt crisis, Economy of Italy, Economy of Spain, US economy, Recession, Italy The world's financial markets remain extremely volatile with investors sending a message to politicians worldwide that they are not doing enough to address the problems threatening the global economic recovery. The downgrade of the United States' credit rating on Friday by Standard & Poor's reignited fears the world's biggest economy could slip into recession again, and there was a big sell off of European shares by the early afternoon, despite the fact the European Central Bank was buying Spanish and Italian government bonds to try to stop the European debt crisis spreading, perhaps limiting damage in Madrid and Milan.