Tim Geithner, the US Treasury secretary, shrugged off warnings from a leading ratings agency about the US public finances as he sought to reassure Wall Street that the world's biggest economy would be able to maintain its highly-prized AAA rating.
In a media blitz following the announcement by Standard & Poor's that it had revised its outlook on the US from stable to negative, Geithner said there was "no risk" of a downgrade. MORE... Gold has smashed through the $1,500-an-ounce barrier for the first time, pushed higher by worries about global inflation, the European debt crisis and the state of the American economy. MORE... The former head of a company that was once one of the largest US mortgage lenders has been convicted of fraud. MORE...
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