Hehehe, Utpal... took the words outtamymouth :-) While Desi born CEOs and Presidents don't have to be Republicans or Dems, they are susceptible to the same errors (?), and often laced with bottom line numbers :-)
On Mon, Aug 8, 2011 at 11:40 PM, Utpal Brahma <utpal_bra...@yahoo.com>wrote: > Isn't it the same S & P who had ranked the mortgage backed securities with > AAA status that brought about the economic debacle? Isn't it the same S & P > that awarded Lehman Brothers with AAA till the last moment. > > Sure they do have credibility !!!! > > But that does not dispute the fact that the US needs to clean up mess. And > surely a lot of mess !! > > > > ________________________________ > From: Dilip Deka <dilipd...@yahoo.com> > To: A Mailing list for people interested in Assam from around the world < > assam@assamnet.org> > Sent: Monday, August 8, 2011 10:02 PM > Subject: Re: [Assam] S&P President Deven Sharma's comments after downgrade > of the U.S. triple-A credit rating > > Do you think Deven Sharma is a republican in disguise trying to throw Obama > out? > Or is he in league with Obama to put the blame on the republicans in the > house? > Or is he a realist calling things as they really are? > We have enough economists in the net who can comment on it if they want to > educate us. > Thanks, > Dilip Deka > ======================================================================= > S&P President: We Have No Political Agenda > Published: Monday, 8 Aug 2011 | 5:14 PM ET > Text Size > By: Margo D. Beller > Special to CNBC.com > > > > * Twitter > * LinkedIn > * More Share > * > > Standard & Poor's CEO defended his company's downgrade of the U.S. triple-A > credit rating, saying S&P had no political agenda and was not > overcompensating for missing the subprime mortgage mess that precipitated > the current economic situation. > "Our role is to call the risks objectively, with transparency, and that’s > what we try to do to fulfill our role and that’s what our job is for the > benefit of investors," Deven Sharma told CNBC Monday. > He pointed out that going from a triple-A to double-A-plus rating "doesn’t > mean [the U.S. is] going to default, it just means its more risky today than > a year ago." > S&P factored in the political process because it "speaks to how the fiscal, > economic and monetary choices are being made," Sharma said, adding he was > pleased by President Obama's speech today addressing the need for U.S. > lawmakers to have a new sense of urgency to tackle long-term deficit > spending. > S&P's view was based on a number of factors including projections of rising > debt levels. Sharma said despite cuts mandated by last week's debt-ceiling > legislation, the U.S. 2015 debt level will be $14 trillion, or 25 percent > higher than today. "The fact is, the debt levels are still doubling from > where we are today and that is an issue to address," he said. > He said S&P regretted its part in the subprime mortgage mess. "Clearly the > housing declines were much more severe than we forecasted or anticipated," > he said, and the rating agency has "made many changes in putting new checks > and balances in our organization. We are committed to the reform process." > Sharma said the drop in markets Monday was not necessarily a reflection of > the S&P downgrade. > "The market reacts in many ways, sometimes unexplainable, but our ratings > really address the fundamentals of the creditworthiness," he said. "The > market could be reacting to the fact there is a slowdown in economic growth. > It could be reacting to what’s happening in Europe. It could be what’s > happening in the U.S. There are multiple factors that...contribute to how > the market reacts." > > ________________________________ > From: Ram Dhar <ramd...@hotmail.com> > To: assam@assamnet.org > Sent: Monday, August 8, 2011 8:08 PM > Subject: [Assam] S&P President Deven Sharma's comments after downgrade of > the U.S. triple-A credit rating > > > > > Read and watch Deven Sharma's comment on the downgrade which has sent > shock waves across global financial market. > > http://www.cnbc.com/id/44062256 > _______________________________________________ > assam mailing list > assam@assamnet.org > http://assamnet.org/mailman/listinfo/assam_assamnet.org > _______________________________________________ > assam mailing list > assam@assamnet.org > http://assamnet.org/mailman/listinfo/assam_assamnet.org > _______________________________________________ > assam mailing list > assam@assamnet.org > http://assamnet.org/mailman/listinfo/assam_assamnet.org > _______________________________________________ assam mailing list assam@assamnet.org http://assamnet.org/mailman/listinfo/assam_assamnet.org
