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Lafayette
08-22-2011, 08:01 PM
AAA+ rating should be back within the week :rolleyes:



S&P Board Fires CEO For Telling The Truth, To Be Replaced With COO Of Citibank

http://www.zerohedge.com/news/sp-board-fires-ceo-telling-truth-be-replaced-coo-citibank

Following years of pandering to client demands, and assigning trillions of dollars in fixed income securities with whatever rating money bought (among other things, a factor to the credit bubble and its subsequent implosion) S&P finally tried to do the right thing and tell the truth. However in this case it picked if not the worst, then certainly the most hypocriticial credit in the world to expose - the US itself. Sure enough two weeks after the downgrade, someone made the phone call and the CEO Deven Sharma is no more. As for the kick square in the gonads: Sherma will be replaced with the COO of...you know it... the bank which demanded tens of billions in secret Fed bailout loans itself, Citibank, and whose existence is inextricably tied to America not seeing any more downgrades ever again.
angelatc
08-22-2011, 08:09 PM
Wow. Could they be any more obvious?
Lafayette
08-22-2011, 08:23 PM
Wow. Could they be any more obvious?

They could have tried him for crimes against the U.S. i suppose and gave Paul Kurgman his job.
HOLLYWOOD
08-22-2011, 08:26 PM
This country's government is so damn corrupt.

At least Egan-Jones Associate downgraded the US FIAT toilet paper system... I trust them more than any of the insider RICO violating ratings agencies and their partners in crime... Banksters, Federal, and State governments.
AuH20
08-22-2011, 08:27 PM
At least the damage was done. Let them change it back. It will do even more damage.
Cowlesy
08-22-2011, 08:31 PM
This country's government is so damn corrupt.

At least Egan-Jones Associate downgraded the US FIAT toilet paper system... I trust them more than any of the insider RICO violating ratings agencies and their partners in crime... Banksters, Federal, and State governments.

Egan-Jones is a good agency. They are one of the few people allowed to advertise at Grant's Interest Rate Observer. I'd trust Egan over S&P, Moody's or Fitch any day.
pcosmar
08-22-2011, 08:42 PM
At least the damage was done. Let them change it back. It will do even more damage.

Question,
How will lenders, investors world wide react to this obvious subterfuge?

time will tell