Opinions

The downgrade of U.S. debt is likely to push regulators to fulfill a Dodd-Frank mandate to find alternatives to credit ratings, but it won't be easy.

The Federal Open Market Committee decided to leave its target rate unchanged at 0.0-0.25% and said "downside risks to the economic outlook have increased" and economic conditions "are likely to warrant exceptionally low levels for the federal funds rate at least through mid 2013."

American Banker offers tough questions for hedge fund manager Bruce Berkowitz to put to the embattled Bank of America CEO on Wednesday. Add your own queries to our list.

Unlike grading corporate credits, rating big countries is thoroughly ridiculous. We can all look at the same budget numbers and assess the political prospects as well as any rating agency.

WASHINGTON — The Senate Banking Committee has begun gathering information about Standard & Poor's decision to downgrade U.S. government debt, according to a committee aide.

A downgrade of the U.S. government's credit rating is raising the question of whether some of the biggest banks may be next.

WASHINGTON — As the stock prices of the big banks cratered on Monday, particularly for Bank of America Corp., pundits and industry observers began worrying that a second financial crisis was in the offing, including the possibility of the failure of a large financial institution.

The downgrading of the government to double-A-plus was not only correct but overdue. If anything, S&P should have taken Uncle Sam down to double-A-minus, given the deadlock over revenues and spending.

Bill Gross, manager of the world's biggest bond mutual fund, said Standard & Poor's showed "spine" by cutting the U.S. debt rating, contradicting Warren Buffett and Legg Mason Inc.'s Bill Miller, who said the rating company erred.

PE firm Gores Group unveils its payments reader strategy for Hypercom's U.S. payments terminal business