Beers said he had "absolutely" no second thoughts about the decision to lower the U.S. credit rating.

He told ABC's "Good Morning America" that Geithner's public comments last night helped bolster the decision-making process of S&P.

When asked if S&P felt responsible for the global selloff, Beers said blaming S&P is a "gross exaggeration" since the markets were already turbulent last week.

Geithner said S&P drew the wrong conclusions when making the credit-rating decision.

"I think S&P has shown really terrible judgment. They have handled themselves very poorly and shown a stunning lack of knowledge about U.S. fiscal budget math."

He told CNBC the judgment by S&P hasn't changed anything, as well as discussed his decision to remain on as Treasury secretary.

Langone, Investment banker and Home Depot co-founder, said the S&P downgrade is "much ado about nothing."

He told CNBC there is no risk of the U.S. defaulting on it's debt. "As long as we can print money we can pay our debt," said Langone.

Langone said, "based on Standard and Poor's record the last 3 or four years, the chances of them being wrong is as good as them being right."

However, he said the debt-ceiling debate was good because it raised public awareness. Langone called on the country and government to live within its means.

Rep. Barney Frank (D-Mass.) said he hopes Congress can compromise on decreasing defense spending.

"There is one area in American policy where we are doing things disproportionate to the rest of the world … where America is disproportionate is in our extraordinary willingness to be the military policeman for the whole world."

He said he is skeptical that the "supercommittee" will be able to come to agreement on spending cuts, however.