Although critics generally accept the long-term validity of ratings, there has been vociferous criticism of the agencies' short-term performance.

ECONOMIST: Credit-rating agencies

One of the arguments, that keeping a lid on long-term rates will get the housing market back on its feet, is of questionable validity.

FORBES: Federal Reserve Delivers $46B Of First-Half Profit To U.S. Treasury

In the next few months, it is due to rule on the validity of a law pushed through by Mr Uribe which changes the constitution to allow a president to seek a second term.

ECONOMIST: Colombia