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If we go to a double dip reception i put the blood on the hands of s&p. >> pretty darn -- [ bleep ]. >> republicans are blames democrats. democrats are blaming the tea party but the blame belongs to standard & poors. >> let's talk about the s&p. >> blame the ratings agencies. >> politicians of all sides attacking them. >> i think s&p has shown really terrible judgment. >> they made a $2 trillion math error. >> s&p is wrong. totally, absolutely wrong. >> they missed the sub prime mortgage crisis. >> president dismissed the s&p downgrade. >> what's the problem? >> robert rice joins me. >> the su...

Basically standard & poor's is saying, like many other people around the country and around the world, are they going to follow through? bottom line for the president this is a stain on his presidency. this is the first u.s. president to have u.s. debt downgraded on his watch. frankly that is why the administration spent all afternoon and evening fighting this behind the scenes. to try to prevent s&p from doing this treasury department got a call this afternoon saying this was going to happen. i'm told officials started going through the paperwork. they believe they found a math error that sta...

Basically standard & poor's is saying, like many other people around the country and around the world, are they going to follow through? bottom line for the president this is a stain on his presidency. this is the first u.s. president to have u.s. debt downgraded on his watch. frankly that is why the administration spent all afternoon and evening fighting this behind the scenes. to try to prevent s&p from doing this treasury department got a call this afternoon saying this was going to happen. i'm told officials started going through the paperwork. they believe they found a math error that sta...

Through amateur hour for having gone ahead with the downgrade even though the administration says the downgrade is based quite literally on a math error. word on the controversial s&p downgrade coming in the wake of yesterday's drop in the dow jones, markets around the world doing the same today. today the u.s. stock market finished largely flat. moody's and fitch have maintained the aaa rating but have warned downgrades were possible in the future. a downgrade, of course, is what the obama administration and congress were hoping to avoid when the president signed a deal to raise the debt ceil...

Perspective. >> they made a $2 trillion math error and forgot to check their work so the rating agencies that didn't make a $2 trillion math error reaffirmed the aaa status. >> i think s&p has shown really terrible judgment and handled it so poorly and shown a stunning lack of knowledge about basic u.s. math and drew the wrong conclusion. >> standard & poor's would have forfeited its good reputation if it had a good reputation to begin with. if you read what they actually said it's a kind of half-baked political analysis, criticizing the american system of government and how it works now. they...