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Are You Glad Standard & Poor's President Stepped Down?

News 2011/08/23 13:00:00
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Is it just us, or does it seem a little odd hearing that Deven Sharma, the acting president of Standard & Poor's since August 2007, is stepping down from his post not a month after the same agency dropped America's credit rating from AAA to AA+?

S & P released a statement explaining, "S & P will continue to produce ratings that are comparable, forward looking and transparent. Deven assisted us with the creation of these two high-growth segments and was then ready for new challenges. Accordingly, we began a process to identify a new leader for S & P."

BBC reports that Sharma will do one additional "special assignment" before he leaves and is replaced by Citibank CEO Douglas Peterson.

So the guy sets up shop, moves things around for a few years, gets the country's credit rating to drop, then peaces out? What gives?

And S & P is making it sound like Sharma did what he set out to do, even though the stock market fell severely right after the rating dropped.

An unnamed source told The New York Times that Sharma announced his resignation after discovering he had little chance of becoming the agency's CEO, and that a recent reorganization left him with less power.
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Top Opinion

  • FanOreilly 2011/08/23 13:17:11 (edited)
    No
    FanOreilly
    +14
    The liberal attack on Standard and Poors continues.

    Instead of addressing the fact that liberals have driven the US economy into the toilet, liberals attack the messenger.

    Liberals push Americans off a cliff then try to charge us for flying lessons.

    >So the guy sets up shop, moves things around for a few years, gets the country's credit rating to drop, then peaces out? What gives?

    He has been around about 4 years. That's about the same amount of time Barack Obama will get. I don't understand the point. Would you be less upset if he was around for 10 years?

    How many years did the last 10 presidents of S and P serve? I am guessing the average is right around 4 years.

    What we see here is the liberal resentment to S & P for recognizing rightly that Barack Hussein Obama will forever be known as 'president downgrade'.

    Next we will see conspiracy theories about S & P being an organ of the right wing.

    Shouldn't we be more concerned with rebuilding the US economy than blaming S & P and making excuses for failure?

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Opinions

  • Pistol Pete 2011/09/23 18:29:19
    No
    Pistol Pete
    He bowed to the pressure. S&P;, Fitch and Moody's SHOULD are not even a valid credit rating agencies now. Maybe NEVER were. ALL of the bankrupt Financial Institutions and Banks had AAA+ ratings, even up until the day that our TAX DOLLARS bailed them out. If the three rating agencies didn't pick up on that, then maybe I should start my OWN rating agency!!!! I can read the NEWSPAPER and tell you what governments and companies are not healthy!!
  • vogwawoman 2011/08/27 05:19:51
    No
    vogwawoman
    He probably stepped down because he was threatened and intimidated by our thug in chief.
  • santanasmooth 2011/08/24 21:09:19
    Yes
    santanasmooth
    The corrupt have fallen,to bad he didn't go before the bribe
  • Xed0 2011/08/24 20:50:04
    No
    Xed0
    He was right, and obama is now butthurt because it is yet another mark on his already red inked report card.

    He WILL NOT go down as the first black president in American history.....He will go down as the WORST.

    S&P; has been around for a very very long time(Since WWII), They aren't a farce and they aren't in it to ruin anyone, just state the facts. I stand behind their decision and applaud them for it even.


    So How's that foot taste obama?
  • JWoods0417 2011/08/24 20:06:27
    Yes
    JWoods0417
    He sh*t the bed.
  • justonemom 2011/08/24 19:56:29
    No
    justonemom
    Chigaco style mob tactics forced him to resign.
  • Barbara Hasler 2011/08/24 19:48:22
    No
    Barbara Hasler
    I feel as though the current regime may have pressured the rating service and they let their CEO go. However, from the news last night he was in a holding pattern for another job within the organization that fell through and will stay on as an advisor until the first of the year. I am somewhat dubious of the "cover up" story.
  • OneLastWord 2011/08/24 19:15:34 (edited)
  • dawn 2011/08/24 18:58:32
    No
    dawn
    +1
    This Chicago style thug White House obviously bullied him into stepping down! We deserved the downgrade because of this administration's out of control spending.
  • Jetti1 2011/08/24 18:24:44
    Yes
    Jetti1
    I wish nothing but the worst for this corporate suck up.... Not because of the down grade from S&P....; Because S&P; assisted in almost ruining our country by giving GOOD RATINGS to under funded banks/investment firms to the tune of millions of dollars in profit for them... S&P; should be held accountable for helping to lead our country into an near depression. S&P; sold out along time ago and the latest move by them shows where their loyalty is. The "fish stinks from the head down". I only hope there is an investigation showing that this monkey was in bed with certain "investors" and it finishes off S&P; as a reputable rating agency. Good-bye Devil!
  • dawn Jetti1 2011/08/24 19:02:00
    dawn
    Who George Soros?
  • OneLast... dawn 2011/08/24 19:25:58 (edited)
    OneLastWord
    .He, G.S. is this Devil and his Bed she is talking about.
    He has taken down already, two other countries economies.
  • OneLast... Jetti1 2011/08/24 19:22:56
    OneLastWord
    Your not real happy with them I see! Well at least you didn't blame it on Bush and the Right.
  • M. Johnson 2011/08/24 16:04:15
    No
    M. Johnson
    I wonder how man threats he got from the liberals before he finally made hid decision.
  • Pistol ... M. Johnson 2011/09/23 18:13:40
    Pistol Pete
    In just ONE sentence, you made TWO spelling/grammar errors. Man, I HOPE that you don't vote. You are not smart enough to decipher right from wrong.
  • jack 2011/08/24 13:58:40
    Yes
    jack
    How many millions in his golden parachute will he get now?
  • OneLast... jack 2011/08/24 19:32:21
    OneLastWord
    George Soros has 34 billion dollars last time I heard.
  • SneakyPete 2011/08/24 13:47:22
    No
    SneakyPete
    Are we seeing the "Washington Attack Team" going after someone who opposes their agenda. I think so....
  • joe 2011/08/24 13:47:09
    Yes
    joe
    He is ready for a new asignment. I am happy for him. Time to go.
  • zbacku 2011/08/24 13:17:55
    No
    zbacku
    +1
    Obama's Chicago Thugs must have given him the ultimatum. obamas chicago thugs ultimatum chicago thugs
  • Nanjing03 2011/08/24 11:55:14
    No
    Nanjing03
    +1
    Nobody likes to hear that their credit stinks. The truth is that the U.S. government, if it was an individual or household, couldn't get a high interest loan from TitleMax down the street. Deven Sharma was easy on us with a AA+ credit rating. Hope it woke some people up. All is "not" well.
  • coach k 2011/08/24 11:06:05
    No
    coach k
    +1
    why did he step down. did he do something wrong?
  • Petey 2011/08/24 10:47:10
    No
    Petey
    +1
    The rating agencies are all licensed by the SEC. So, if you don't play nice with the government, I'm sure they can punish you. S&P; being the only rating agency that had a shred of truth to its U.S. debt rating, someone there had to be punished. The only mistake that S&P; made was to rate the U.S. debt to high for too long. It should have been junk a long time ago. U.S. Bond holders need to stop being suckers, or you'll be holding the bag just like all those poor people in real estate back in '08.
  • TheMartian 2011/08/24 08:44:42
    Yes
    TheMartian
    I don't really care, and neither does he,
    showed standards, but is even now still hardly poor...

    I'm certain his golden parachute made everything ok.
  • NidStyles 2011/08/24 07:37:50
    No
    NidStyles
    +4
    The downgrade should have happened 11 years ago.
  • OneLast... NidStyles 2011/08/24 19:35:05
    OneLastWord
    Amen ! But the Tea Party, Bush and the Right would still be blamed RETRO !
  • USAF Vet 2011/08/24 07:14:56
    No
    USAF Vet
    +3
    Deven Sharma is the only person on earth with the guts to tell this administration, liberal wackos, and progressive numbskulls they are leading this country right down the financial drain; enter the progressive libtards and their media accomplices; with the standard brand, canned castigation, marginalization, censuring hyperbole, as they attempt to breathe life in their organ failing utopian agenda.
  • OneLast... USAF Vet 2011/08/24 19:37:23 (edited)
    OneLastWord
    I see you don't really care for these M.F. either. :0)
  • Rollo Goodlove 2011/08/24 07:12:07
    No
    Rollo Goodlove
    +3
    Obama probably sent guys with suits to "suggest" to him that he step down. Don't forget, Obama is from the city of Chicago !! They got pretty pissed off about that downgrade. This wouldn't be the first time the Government "excused" someone saying some thing that they didn't want said...ever hear of Bill Cooper ? city chicago pretty pissed downgrade government excused hear cooper behold a pale horse
  • OneLast... Rollo G... 2011/08/24 19:40:23
    OneLastWord
    But still S&P is a private Org.
    Yes I know how the U.S. Gov. and the W.H. can bring it.
  • Rollo G... OneLast... 2011/08/24 21:27:13
    Rollo Goodlove
    I don't think they give a damn about a private org, public, or any other. Bill Cooper was a "private citizen" :)
  • ★~DoctorWhoGuru~★ 2011/08/24 06:32:22
    Yes
    ★~DoctorWhoGuru~★
    Yes
  • Expers 2011/08/24 05:14:04
    Yes
    Expers
    +1
    I see, I wish there had been an undecided since I wasn't well enough informed to have an opinion now that I read more into I see, I was quite in error. My apologies.

    Now to the flank, I just voted with a minimalist's details on the subject and have found my self subjected to mirror the common mindset of humanity. "When you fail here is your three strikes your out." And through this reaction and action I find that I have also mirrored the typical mindset of don't tell me, tell the leader, he'll think for me, and then tell me what I should think.

    This would be the line that influenced my initial decision,
    So the guy sets up shop, moves things around for a few years, gets the country's credit rating to drop, then peaces out? What gives?

    Makes you liberals wonder if cnn will ever have an article like this for obama doesn't it. (Don't hold your breathe, your still human, and life too is precious.)
  • Linda 2011/08/24 05:08:05
    No
    Linda
    +1
    He's not leaving until the end of the year; however, the only thing I question is the S & P's timing. How could we have not lost our AAA 6 months ago--what changed in 6 months? Nothing.

    Our downgrade was overdue...it started with Bush (a little bit), but the acceleration of debt under Obama is sinful, shameful, and suspect!
  • JoeM~PWCM~JLA 2011/08/24 04:35:32
    No
    JoeM~PWCM~JLA
    +1
    He did an honest job, getting his just rewards.
  • OneLast... JoeM~PW... 2011/08/24 19:52:04 (edited)
    OneLastWord
    It started some time ago with the last 6 F...... presidents.
    Spending more money than they had tax income.

    That is just how simple it is.

    It’s a “Group Corrupted American Democracy Political Failure”.
  • The River Rat 2011/08/24 04:17:16
    No
    The River Rat
    +1
    It is too bad that the Government can put that much pressure on a company for being honest and force an honest man out of his job, but that is the Democrat way.
  • Bothergirl 2011/08/24 03:49:36
    Yes
    Bothergirl
    he left because he wasn't going to to get the CEO position. It was good for him to move on.
  • Magyarita 2011/08/24 02:27:25
    Yes
    Magyarita
    Never heard of S&P..;.
  • Bothergirl Magyarita 2011/08/24 03:50:34
    Bothergirl
    +1
    Really?

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