Description:   John Chambers, head of Sovereign Ratings for Standard & Poor?s, explains why the ratings agency downgraded the U.S. credit rating.

Source: CNNMoney.com – video report

Date: 08/06/2011

Link:  http://money.cnn.com/video/news/2011/08/06/n_us_credit_downgrade.cnnmoney/

Questions for discussion:

• Summarize the reasons for the S&P decision?
• Do you think it was justified?
• What are the consequences for governments, businesses, and consumer?
• How will this affect the economy?