In an interview with CNBC, Treasury Secretary Timothy Geithner said Standard& Poor's "has shown really terrible judgment and they've handled themselves very poorly," when it downgraded the United States' rating.
"They've shown a stunning lack of knowledge about basic U.S. fiscal budget math. And I think they drew exactly the wrong conclusion from this budget agreement," Geithner added.
Greek philosopher Heraclitus once said "the world bubbles forth," suggesting a natural magic beyond the entailing laws of modern physics.
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At the dawn of Western philosophy and science, some 2,700 years ago, Heraclitus, declared that, "the world bubbles forth." There is, in this fragment of thought, a natural magic, a creativity beyond the entailing laws of modern physics. I believe Heraclitus was right about the evolution of the biosphere and human life. We live beyond entailing law in a natural magic we co-create.
U.S. markets have opened for the first time since Standard and Poor's downgraded the nation's credit rating. The Dow Jones industrial average fell more than 250 points minutes after the opening bell on Wall Street.