The irony, intrigue, and corruption is both bizarre and macabre. The Standard & Poors President Deven Sharma has decided to step down only three weeks after the agency downgraded the US credit rating. What a predictable move. The post will be occupied by Douglas Peterson, chief operating officer of Citibank, to take effect on September 12th. Business as usual on Wall Street. The S&P lead role will be in capable hands. One might wonder if the outgoing officer will be charged with child pornography or a rape in a hotel. That event might not be needed.
Comment by Adamantine:
Consider: Standard and Poor’s downgrades the US credit rating and within three weeks the CEO of S & P leaves and the US Justice department begins an investigation of S&P.
One might wonder if the outgoing officer will be charged with child pornography or a rape in a hotel. That event might not be needed.
Dishonesty now stalks a nation once known for its honesty. What is a credit rating anyway but the rating of a countries honesty and its income as it relates to money? It can be weakened by either dishonesty or by loss of income. These two events at S&P make me suspicious of dishonesty at the Justice department.
Read the whole article. Nothing can be known for sure by the likes of such small players in the world as ourselves but where there is smoke there is fire and we smell plenty of smoke.