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Stuck with aaa ratings. barney frank is saying because of the dodd-frank finally security reform law, they do not have to follow what the agencies say. as you know it is known around the world this agency has downgraded u.s. debt. this is going to be a difficult political moment in addition to the mechanics what kind of effect this will have on americans with interest rates. >> greta: the white house much have -- the white house must have seen this coming. standard & poor's must have known tuesday. it must have hit them before in afternoon. they must have suspected this was coming. >> last mon...

Cuts. speaker boehner walked from those talks twice. speaker boehner's account as you know, look president obama was moving the goalpost and trying to add more taxes on and that's why he walked. republicans will point out, look they voted for the ryan budget which added more deficit savings. they were pushing cut, cap and balance, et cetera both sides will be pointing fingers. at the end of the day there's one president and that president now has become the first in u.s. history to have debt downgraded on his watch. >> greta: how much is he engaged to stall or have standard & poor's take anoth...

Cuts. speaker boehner walked from those talks twice. speaker boehner's account as you know, look president obama was moving the goalpost and trying to add more taxes on and that's why he walked. republicans will point out, look they voted for the ryan budget which added more deficit savings. they were pushing cut, cap and balance, et cetera both sides will be pointing fingers. at the end of the day there's one president and that president now has become the first in u.s. history to have debt downgraded on his watch. >> greta: how much is he engaged to stall or have standard & poor's take anoth...

Mcconnell, he was saying the only way to get to four trillion was to include revenues and tax hikes. these agencies are neither republican nor democrat. they do not care. they just want to see tate adds up to four trillion. they don't -- so they don't make political statements as to whether the complexion of the deal is -- hear me out. they are saying if it wasn't going to be four trillion, regardless of the mix, they wouldn't like it. they didn't like it. this is what they did. >> greta: can we stop putting them up on the alter. let's take about these ratings agencies they are the reason the ...

3 p.m. eastern time or so before he got on the helicopter to go. you can bet they were discussing this. >> greta: did they try to act like it is no big deal? >> they were trying to downplay it. in fairness, standard and here's had -- standard & poor's had been signaling this could happen. after cutting the dell deal and getting the markets calmed a little today in part because the jobs numbers, which now we are not talking about, a bit of good news now eclipseed by bad news. -- they thought things would start turn the corner and bam they get hit with this >> greta: ed, thank you. joining us ne...