Economic crisis in Greece and the USA

Stock markets in Europe, the US, and other regions closed sharply lower yesterday after ratings agency Standard & Poor’s downgraded its sovereign credit rating of Greece to “junk” status and also lowered Portugal’s rating by two notches: here. See also here. And here.

Britain: Business Secretary Lord Mandelson has attempted to play down Britain’s exposure to the global wave of panic and speculation that has been sparked by the Greek crisis: here.

This satiric animation video by Mark Fiore from the USA is called Goldman Sachs to Jobless Jack.

USA: Testifying Tuesday before a Senate investigative panel, Goldman Sachs executives defended their deceptive marketing of mortgage-backed securities and denied any responsibility for the global economic crisis: here.