Standard & Poor’s said late on Monday that its president, Deven Sharma, will step down and leave the company by the end of the year. He will be replaced by Douglas Peterson, a top executive at Citigroup.
The decision by Mr. Sharma to resign comes as the ratings agency is under pressure from several fronts, including outrage over its downgrade of the United States’s credit rating; an inquiry by the Justice Department into its ratings of subprime mortgage securities; and a push by activist investors to break up its parent company, McGraw-Hill.
So is the downgrade, S&P acting crazy or is it the TEA Party's fault, which is the Dem talking point this week?
15-20 trillion, yes, trillions of dollars of future debts for the US and we should still be Triple AAA rated? China is selling off our bonds, who will buy the notes for the next decade?
Thomas Sowell: There are no solutions, just trade-offs.
Yep, there needs to be the blame game. The current admin finds it impossible to take responsibility for anything Past presidents, the present tea party movement, and future opponents all are to blame.
