Popularized in films like Limitless, legal smart drugs called Nootropics are becoming more and more prevalent in board rooms and on Wall Street.Keep reading »
- 05 Aug 2011 at 8:15 PM
A mathematical error discovered late Friday by Treasury Department officials threw into limbo, at least temporarily, plans by ratings firm Standard & Poor’s to downgrade the top-notch AAA credit rating the U.S. has held for 70 years, people familiar with the matter said. The wild back and forth between the Treasury Department and S&P Friday afternoon illustrated the dramatic stakes as the ratings firm moved to downgrade the debt.
S&P officials still had not decided how to proceed and could move forward with a downgrade despite the issues raised by the White House, the people familiar with the matter said. A decision could come later Friday. S&P officials notified the Treasury Department early Friday afternoon it was planning to downgrade the debt, a government official said, and the firm presented its report to the White House. S&P has previously warned such a downgrade might come if Washington didn’t move to comprehensively tackle its long-term fiscal woes.
After two hours of analysis, Treasury officials discovered that S&P officials had miscalculated future deficit projections by close to $2 trillion. It immediately notified the company of the mistakes. S&P officials later called administration officials back to say they agreed about the mistakes, though they didn’t say whether it would affect the rating. White House officials remained waiting Friday evening to see what the company would do.
Keep reading »
It’s not just doctors and scientists that need STEM education. America’s shifting economy is demanding more trained workers in many different sectors. See how Travis Brooks got the hands-on education he needed to become a technician at the Chevron Pascagoula Refinery. Visit The Atlantic to learn more.
- Hedge Fund Manager Keeps A Detailed Record Of All The Asses He's Grabbed
- 10 Reasons Wall Street Is Using Smart Drugs Crush Work
- If You Stand Perfectly Still, Dan Loeb Cannot See You: Sony Execs
- Buy Anything With The Word ‘Cuba’ In It
- Bonus Watch '14: Citigroup
- Janet Yellen Politely Asks Elizabeth Warren To Shove It
- Bonus Watch '14: Investment Analyst Turned Fantasy Sports Team General Manager
- Arizona State Now Has Multiple Business Schools To Choose From
- Bill Ackman Just Can't Help Himself
- Ex-Jefferies Exec Convicted Of Fraud Has Bone To Pick With The Guy Who Turned Him In
- Executive Editor
- Bess Levin
How Can We Help You?
- Send tips to:
- For tech issues email:
- For advertising or events email:
- For research or custom solutions email:
- Dealbreaker is published by Breaking Media.
For a full list of our sites, services and staff visit breakingmedia.com