S&P CEO resigns.

[Anti Federalist]

Yeah, this was in the works for months before S and P downgraded the USG's credit rating.

Righhhhhhhhtttttttttttt. :rolleyes::rolleyes::rolleyes:

Head of S&P to Resign

http://online.wsj.com/article/SB10001424053111903327904576525141971060106.html?m od=djemalertNEWS

Ratings Firm Says Sharma Exit, for Year-End, in Works Before U.S. Downgrade.

Standard & Poor's President Deven Sharma is leaving the credit-rating firm at the end of the year, the company said Monday night.

Mr. Sharma will step down as president on Sept. 12 and be succeeded by Douglas Peterson, chief operating officer of Citigroup Inc.'s Citibank unit. Mr. Sharma will remain at S&P through the end of the year in an advisory capacity, working with McGraw-Hill Cos. Chairman, President and Chief Executive Harold "Terry" McGraw III as the company explores a separation of its education business.

[squarepusher]

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

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

[Lucille]

The banksta thugs in the WH must have made him an offer he couldn't refuse.

[Teaser Rate]

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

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

I have to agree with the board's decision on this. US treasuries are the safest investment in the world, so grading our sovereign debt as anything other than AAA is absurd. Downgrading it was a huge blunder which will continue to damage S&P's credibility for years to come.

[certaindeath4]

Dude, is this guy for real? Unless my /s meter is broke.

[Anti Federalist]

I have to agree with the board's decision on this. US treasuries are the safest investment in the world, so grading our sovereign debt as anything other than AAA is absurd. Downgrading it was a huge blunder which will continue to damage S&P's credibility for years to come.

LoL - I'm going to have to start giving you +reps just to mess with you.

[Kotin]

I have to agree with the board's decision on this. US treasuries are the safest investment in the world, so grading our sovereign debt as anything other than AAA is absurd. Downgrading it was a huge blunder which will continue to damage S&P's credibility for years to come.


Lol remind me why you frequent these forums?

[specsaregood]

Lol remind me why you frequent these forums?

what he said is completely factual. there is absolutely zero chance of the US defaulting on those treasuries since it has the ability to print the money to pay them off. Which is what the rating system is supposed to rate. This is 100% inline with what Dr. Paul has said. Now, whether the money used to pay them off is worth anything is a completely different matter.

[freshjiva]

what he said is completely factual. there is absolutely zero chance of the US defaulting on those treasuries since it has the ability to print the money to pay them off. Which is what the rating system is supposed to rate. This is 100% inline with what Dr. Paul has said. Now, whether the money used to pay them off is worth anything is a completely different matter.

Name me one sovereign nation on earth that doesn't have the ability to print money to pay its debts. Does that mean every sovereign debt on earth should bear a AAA-rating?

[Anti Federalist]

what he said is completely factual. there is absolutely zero chance of the US defaulting on those treasuries since it has the ability to print the money to pay them off. Which is what the rating system is supposed to rate. This is 100% inline with what Dr. Paul has said. Now, whether the money used to pay them off is worth anything is a completely different matter.

I know, he really is right. LoL.

But honestly, is the rating strictly the ability to pay back, or the ability to pay back in anything of value?

What would my credit rating be if I tried to send my mortgage company toilet paper with shit stained $ signs on them for payment?

[Anti Federalist]

Name me one sovereign nation on earth that doesn't have the ability to print money to pay its debts. Does that mean every sovereign debt on earth should bear a AAA-rating?

Get your AAA rated Zimbabwe government bonds right here!

[specsaregood]

Name me one sovereign nation on earth that doesn't have the ability to print money to pay its debts. Does that mean every sovereign debt on earth should bear a AAA-rating?

If they are denominated in a currency they can print, yes. That is the key, are you sure all those sovereign debts are denominated in THEIR currency? The various EU member countries can't print their way out.

[libertarian4321]

Lol remind me why you frequent these forums?

I think we can be against excessive government spending without believing that the government is going to default on it's debt.

[Vessol]

Hell, I'm surprised he didn't wind up dead in some back-alley or "committed suicide".