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Hero of NYC's debt crisis dies, S&P lowers U.S. credit score

Marie Cusick

Congress raised the debt ceiling. But Standard & Poor's still lowered the United States' credit rating after hours on Friday night.

The credit downgrade may not be as bad as it sounds for the U.S. (Jacob Goldstein, NPR's Planet Money).

But it's a blow to morale nonetheless, so watch today's stock market (Tamara Keith, NPR).

Players in the 'innovation economy' tend to rationalize away the stock market's ups and downs (Scott Kirsner, Boston.com).

Former New York Governor Hugh Carey, who helped tackle New York City's debt crisis, died Sunday (Deepti Haleja, Associated Press).

Last word in debt: Did you hear Planet Money sit down with Richard Ravitch and other former NYC officials last week Morning Edition to talk about what happened when the city defaulted on some of its debt in the '70s? (Zoe Chase, NPR's Planet Money).

In good news

A family frozen cheesecake business considering expansion in Buffalo (Matt Glynn, Buffalo News).

The Rochester Democrat & Chronicle says PAETEC downtown site is not dead yet (Brian Sharp, D & C).

While tourists are away, the flyboys of Yates County play (Rachel Ward, Innovation Trail).

Marcellus Shale

DEC and gas companies preparing for turf battle over state parkland (Jon Campbell, Gannett).

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