Write-Offs: 08.05.11

$$$S&P Downgrades US Credit Rating to AA-Plus (AP)

$$$Italy Vows Faster Fiscal Consolidation (WSJ)

$$$US downgrade to hit repo agreements most (Reuters)

$$$Sex Offender Accused In Cat's Death (Omaha)

$$$Citi To Hire 500 Military Veterans (FINS)

$$$Carlos Slim Loses $8 billion in 4 days (Bloomberg)

$$$ CNBC's Mandy Drury and Courtney Reagan: SAMESIES! (TwitVid)

$$$Deustche Bank Executive Puts Up A Fight (Dealbook)