and asia markets are down barely at all when you would expect asia to be panicking about the supercommittee to come through. even if it did lead to some downgrade, but it won t because two major ratings agencies came out tonight, s&p and moody s, said we aren t going to downgrade you based on the flop that s my words, not theirs, but even if there was a downgrade, what that means is u.s. bonds might not get paid back and they are riskier. that means you have to pay higher and to get people to buy them. after the last downgrade bond interest rates actually went down, not up and that s because so much panicked money went into bonds that it made the actual interest rates go down and that means they didn t believe at all that the u.s. was some kind of credit risk. furthermore, can we talk about he s automatic cuts? one reason ratings agencies aren t going to reduce our credit ratings again because the
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civilians. three members of his unit had already pled guilty. gibbs was accused of cuts off pieces of the corpses to keep as souvenirs and planting weapons to make it look as though the men were taliban fighters. gibbs will be eligible for parole in ten years. in the turkish city, 28 people have been pulled alive from the rubble after a deadly earthquake wednesday night. rescue crews worked throughout the day, thursday, to reach people still trapped. dozens more may still be buried. the government says 260 survivors have been taken to other cities. the death toll stands at 12. the murdoch media empire has been compared to the mafia. he said they adopted a code of silence surrounding the phone hacking scandal. murdoch rejetted the allegation when he appeared before mps thursday. he insists he didn t learn about the scope of the problem until last year. those are the top stories from cnn, the world s news leader. i m monita rajpal. world business today starts right now
one. yeah. i always wonder, too, with the ratings agencies, they blew it so badly in 2008, and they want to be the ones to say, you know, we are dotting our is and crossing our ts and we want to make sure everybody knows every ripple we see. and also, don t most of the people who lend us money, ie china, know what our financial situation is? they don t need moodies or fitch. if the merrill lynch analyst, he s not saying i talked to a source inside fitch. and he s not saying i look at the balance sheet of america and we are unable to pay our bills. all he is saying is two other rating agencies said if they can t work out a political solution we will down grade them and we don t think they will. so now a financial analyst is judging politics and that s not his area of expertise. that s what everybody needs to understand. the trigger is whether or not the super committee can get their act together before thanksgiving and come up with a plan that cuts 1.2 trillion from
one. yeah. i always wonder, too, with the ratings agencies, they blew it so badly in 2008, and they want to be the ones to say, you know, we are dotting our is and crossing our ts and we want to make sure everybody knows every ripple we see. and also, don t most of the people who lend us money, ie china, know what our financial situation is? they don t need moodies or fitch. if the merrill lynch analyst, he s not saying i talked to a source inside fitch. and he s not saying i look at the balance sheet of america and we are unable to pay our bills. all he is saying is two other rating agencies said if they can t work out a political solution we will down grade them and we don t think they will. so now a financial analyst is judging politics and that s not his area of expertise. that s what everybody needs to understand. the trigger is whether or not the super committee can get their act together before thanksgiving and come up with a plan that cuts 1.2 trillion from