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August 10, 2011
---- WASHINGTON, D.C. ----
Late Friday the ratings agency Standard and Poors, a subsidiary of The McGraw Hill Companies, Inc. (NYSE:MHP) announced that it has lowered its rating of certain United States debt from AAA to AA+.
President Obama promptly responded by issuing his own downgrade of S&P to "snitch." "And their outlook is negative."
Treasury Secretary Timothy Geithner contested the downgrade. "We have enough disk space for lots more dollars."
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