Americas: History repeating itself

Author: | Published: 30 Oct 2013

It is hard not to wonder if Standard & Poor's (S&P) has been gloating through the latest US debt ceiling fiasco.

After downgrading the country's credit rating from AAA to AA+ following a similar stalemate last year, S&P must feel some vindication from all the naysayers who suggested the government had learned its lesson, and wouldn't play another game of chicken with the possibility of default.

Now Fitch has put its AAA rating of the US on negative watch,...