Standard & Poor's President Resigns

The Wall Street Journal ^ | AUGUST 23, 2011 | JEANNETTE NEUMANN

[M. Thatcher]

Standard & Poor's President Deven Sharma is leaving the credit-rating firm at the end of the year, according to a person familiar with the matter.

The credit-rating firm plans to announce Mr. Sharma's exit on Tuesday before the markets open, the person said. Douglas Peterson, chief operating officer of Citigroup Inc.'s Citibank unit, will succeed Mr. Sharma on Sept. 12, that person said.

[dfwgator]

Don’t cry for us Argentina.

....and the money kept rolling out....

[muawiyah]

The "downgrade" was obviously WRONG. Did you realize that as soon as the story got out folks started buying up every bit of US debt they could find with only record low interest rates to reward them.

Obviously S&P got it all wrong. Sharma got it really wrong. The idiot from BoA coming in is exceptionally misguided.

These guys are being rapidly washed down history's memory hole.

[muawiyah]

S&P is not part of the “financial system”. They have no stake in any of this.

[ladyjane]

I’m not defending BoA. It’s a bank people love to hate.

But as a conservative can you condone what this administration has done to private companies and corporations?

They have been very crafty. They have played to the class envy of the masses. So it’s okay to screw over a corporation you hate but what about when it comes to your private enterprise.

[SueRae]

More like Geithner, Goldman and JP Morgan (Dimon)

[Mike Darancette]

I can’t wait till he writes his book, I want to buy it.

I think the House Banking Committee should invite Mr. Sharma in for a little chat.

[SueRae]

More like the S&P crossed the guys that own 0bama..GS, JP, etc. I do not believe that they didn’t have some idea that it was coming...but the sudden downdraft cost them all. And now it’s paybacktime.

Honestly, I’m looking for the candidate that will be taking on Wall Street. This act has to be cleaned up if any one is to have faith in the market ever again. Without investors, we are sunk.

I’d be consulting people like Markopolos, retired Senator Ted Kauffman (and yes, he’s a Democrat...but he was fighting hard for fair markets), Judd Gregg, etc. Bring bakc Glass Steagall, bring back the uptick rule and puts some serious brakes on high frquency trading. and let the perps do some real jail time, not just fines. CLEAN HOUSE.

[rangerwife]

Thugocracy in action.

[pyx]

Standard & Poor's President Deven Sharma is leaving the credit-rating firm at the end of the year, according to a person familiar with the matter.

Thug boy Ubama still doin' it Chicago Style.

[shield]

We've got a form of mafia thugs running the show...gangster government is exactly right. I swear there is some kind of stronghold evil spirits hanging over Chicago...all we get out of Chicago are criminals and thugs.

[A Navy Vet]

More Chicago thuggery? More corrupt DC influence/pressure?

Hope this turns out to be innocent. But if not, it's one more step into totalitarianism under the Hussein regime.

Exactly what is going to take for millions to march on DC and pull these corrupt SOB's out of their offices and coat them with honey and feathers? Yeah, I know, ain't ever going to happen.

[cricket]

Somebody squeezed the Sharma. . . Oh, to laugh. . .LOL!

[Roccus]

...will discredit anything that S & P does subsequently.

I thought a whole passel of AAA MBSs already did that....but waddo I know?

[Norm Lenhart]

At the risk of mixing the classics come to life, just have another soma and take in one of the new ‘Feelies’ with the other Betas. By Ford, you’ll feel lake a whole new person! ;)

[Yaelle]

Brilliant.

[onyx]

Early retirement of convenvience or one that was forced?

[onyx]

PREFECT ©

[StAnDeliver]

"Douglas Peterson, chief operating officer of Citigroup Inc.'s Citibank unit, will succeed Mr. Sharma on Sept. 12, that person said."

Yep, look for AAA to be restored on the day of the first Presidential Debate.

[ding_dong_daddy_from_dumas]

This makes Obama look like a thug and will discredit anything that S & P does subsequently

I think BO will pull this off. He couldn't pin the drop in the markets on the Tea Party (not yet anyway), but I think quite a few owners of stock funds were POed at S&P already. I think that blame is misplaced, but they say "Why did they have to downgrade the USA?" That's the way my neighbor thinks.

[Ulysse]

Give him what name you want !
Anyway it’s “liberal-fascism” also called “smiley-face fascism”