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S&P President - Out.....

Trajan

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:eusa_think:I am sure the congressional threats, the head banging and calls from unlisted WH and Tres. dept numbers didn't help:terror:....AND had absolutely NOTHING to do with this...:eusa_hand:

and yes they go on to list dozens of other possible reasons......but man, the timing? :lol::eusa_shhh:


Sharma to step down as S&P president
By David Gelles and John McDermott in New York


Deven Sharma is stepping down as president of Standard & Poor’s only weeks after the rating agency issued an unprecedented downgrade of the credit of the US, according to people familiar with the matter.

Mr Sharma will remain as an adviser to S&P’s owner, McGraw-Hill, for four months and leave the company at the end of the year, they said.

More at
Sharma to step down as S&P president - FT.com
 

Immanuel

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Can't read it because I'm not registered and don't care to be registered at this point in time. So, does it make claims that he is not being forced out by President Obama's minions for the downgrading?

Immie
 

Mad Scientist

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You know if I did the same thing, fixed ratings for a fee, my ass would be in jail! But not the Wall Street Mafia! Oh no, they just get retired with a golden parachute.

I really can't take much more of them assholes! :evil:
 

geauxtohell

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:eusa_think:I am sure the congressional threats, the head banging and calls from unlisted WH and Tres. dept numbers didn't help:terror:....AND had absolutely NOTHING to do with this...:eusa_hand:

and yes they go on to list dozens of other possible reasons......but man, the timing? :lol::eusa_shhh:


Sharma to step down as S&P president
By David Gelles and John McDermott in New York


Deven Sharma is stepping down as president of Standard & Poor’s only weeks after the rating agency issued an unprecedented downgrade of the credit of the US, according to people familiar with the matter.

Mr Sharma will remain as an adviser to S&P’s owner, McGraw-Hill, for four months and leave the company at the end of the year, they said.

More at
Sharma to step down as S&P president - FT.com

I don't think it was the political pressure. It think it was the bum call on the part of the S&P, who never could fully articulate a quantitative reason for the downgrade. Citing the toxic environment in Washington? Give me a break.

I think when Moody's and Fitch didn't downgrade us, the rest of the investment world looked at the S&P as a bunch of clowns who had just cost them a wad of money.

That is where the pressure came from.
 

geauxtohell

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Can't read it because I'm not registered and don't care to be registered at this point in time. So, does it make claims that he is not being forced out by President Obama's minions for the downgrading?

Immie

How could they? The S&P is a private firm. More than likely the downgrade blew up in their face and caused a sufficient degree of embarrassment that led someone to whisper in his ear that he should exit stage right.
 

william the wie

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Well the problem for S&P is that the main probable reason for a downgrade was a report from several undisclosed sources that Obama and his team were asked to leave the negotiation room by the Democratic congressional leadership. This is normal behavior for the Ds with a D president who wins a clear majority is his election. Kennedy and Clinton did not have to put up with much of this. Kennedy because IL and WV wins were purchased outright and Clinton ended up as a two term minority president. Only when the memoirs and histories are written will it be possible to tell how true this report is. If you want to read the original report go to the "Weekly Standard" the story may still be up.
 

Immanuel

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Can't read it because I'm not registered and don't care to be registered at this point in time. So, does it make claims that he is not being forced out by President Obama's minions for the downgrading?

Immie

How could they? The S&P is a private firm. More than likely the downgrade blew up in their face and caused a sufficient degree of embarrassment that led someone to whisper in his ear that he should exit stage right.

How could they?

Easy starting with IRS Audits all the way to prosecution for insider trading and very likely there are other threats they can hold over individual heads as well. In fact, didn't I read that they have already begun the investigation of insider trading?

Yes, I have:

Bombshell as investigators start insider trading enquiry at Standard & Poor's: Who had prior knowledge of downgrade? | Mail Online

News Headlines

Government bureaucrats don't have to try very hard to make the lives of their enemies into living hells.

Immie
 

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