User Tag List

+ Reply to Thread
Results 1 to 3 of 3

Thread: S and P Head Stepping Down

  1. #1
    Original Ranter
    Points: 112,719, Level: 81
    Level completed: 69%, Points required for next Level: 931
    Overall activity: 0.1%
    Achievements:
    SocialTagger Second Class50000 Experience PointsYour first GroupVeteran
    Conley's Avatar Senior Member
    Karma
    7413
    Join Date
    Jun 2011
    Posts
    22,473
    Points
    112,719
    Level
    81
    Thanks Given
    4,582
    Thanked 2,511x in 2,019 Posts
    Mentioned
    238 Post(s)
    Tagged
    1 Thread(s)

    S and P Head Stepping Down

    NEW YORK (AP) — The president of Standard & Poor's is stepping down, an announcement coming only weeks after the rating agency's unprecedented move to strip the United States of its AAA credit rating.

    The McGraw-Hill Cos., the parent of S&P, said late Monday that Deven Sharma will be replaced by Douglas Peterson, now the chief operating officer of Citibank N.A., Citigroup Inc.'s chief banking arm.

    Sharma, 55, "was ready for new challenges" after helping S&P separate its data, pricing and analytics business from its ratings business, McGraw-Hill said in a statement. The company unveiled that restructuring at S&P late last year.

    Peterson, 53, will take over the helm of S&P starting Sept. 12. Sharma will stay on as an adviser at the parent company until the end of the year.

    McGraw-Hill's statement did not mention of the Aug. 5 downgrade that sent shock waves through global financial markets and was sharply criticized by the Obama administration, which said the agency's analysis was fundamentally flawed. Other major rating agencies have maintained their AAA ratings on the U.S.

    It also did not refer to recent reports that the Justice Department was investigating whether S&P improperly rated dozens of mortgage securities in the years leading up to the financial crisis in 2008. Those reports sent McGraw-Hill's shares tumbling last week.

    http://www.chron.com/news/article/He...wn-2136621.php

    I wonder if this is not a peace offering to the Obama administration as they continue their investigation into S&P...

  2. #2
    Original Ranter
    Points: 297,679, Level: 100
    Level completed: 0%, Points required for next Level: 0
    Overall activity: 42.0%
    Achievements:
    SocialRecommendation Second ClassOverdrive50000 Experience PointsVeteran
    Mister D's Avatar Senior Member
    Karma
    416525
    Join Date
    Jun 2011
    Posts
    117,861
    Points
    297,679
    Level
    100
    Thanks Given
    25,296
    Thanked 53,470x in 36,445 Posts
    Mentioned
    1102 Post(s)
    Tagged
    1 Thread(s)

    Re: S and P Head Stepping Down

    Timing is interesting. Could be.
    Whoever criticizes capitalism, while approving immigration, whose working class is its first victim, had better shut up. Whoever criticizes immigration, while remaining silent about capitalism, should do the same.


    ~Alain de Benoist


  3. #3
    Original Ranter
    Points: 388,252, Level: 100
    Level completed: 0%, Points required for next Level: 0
    Overall activity: 0.2%
    Achievements:
    SocialRecommendation Second ClassOverdriveTagger First Class50000 Experience PointsVeteran
    MMC's Avatar Senior Member
    Karma
    70166
    Join Date
    Jun 2011
    Location
    Chicago Illinois
    Posts
    89,892
    Points
    388,252
    Level
    100
    Thanks Given
    54,131
    Thanked 39,163x in 27,727 Posts
    Mentioned
    243 Post(s)
    Tagged
    0 Thread(s)

    Re: S and P Head Stepping Down

    Yeah methinks some of those European Stockholders along with the US are like telling him thats it you're done.....



    As in Hit the Road Jack.....
    History does not long Entrust the care of Freedom, to the Weak or Timid!!!!! Dwight D. Eisenhower ~

+ Reply to Thread

Similar Threads

  1. GOP Group Depiction of Obama Shot in Head Draws Fire
    By wingrider in forum The Latest Happenings
    Replies: 11
    Last Post: 11-01-2011, 12:05 AM
  2. IMF to Pick French Finance Minister Legarde as New Head
    By MMC in forum The Latest Happenings
    Replies: 1
    Last Post: 06-29-2011, 09:08 PM

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts