Re: [Assam] S&P President Deven Sharma's comments after downgrade of the U.S. triple-A credit rating
But that does not dispute the fact that the US needs to clean up mess. And > > surely a lot of mess !! You bet, people want to pay less tax and want more benefits !! Economy is not growing.. where will the money come from :-) look around , it's alarming ... 1. Israel - protests around the country over price rise. http://globalpublicsquare.blogs.cnn.com/2011/08/09/will-the-protests-in-israel-bring-down-netanyahu/?hpt=hp_bn2 2. Spain,Greece, Portugal - have experienced protests and rioting in reaction to government austerity programs and bad economic conditions. 3. Phillipines - workers are demanding higher pay 4. China - Cab drivers are protesting rising price of gas. Inflation - food prices have increased by 10% 5. UK - stunning images of riots all over. I was watching BBC , there is anger in UKs urban poors for years.It has now exploded. 6. Arab spring revolt 6. India - great Indian tamasha on Lokpal continues ! ttyl > Date: Tue, 9 Aug 2011 19:03:36 -0500 > From: assa...@gmail.com > To: utpal_bra...@yahoo.com; assam@assamnet.org > Subject: Re: [Assam] S&P President Deven Sharma's comments after downgrade of > the U.S. triple-A credit rating > > 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 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 > > 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 r
Re: [Assam] S&P President Deven Sharma's comments after downgrade of the U.S. triple-A credit rating
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 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 > 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 > 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
Re: [Assam] S&P President Deven Sharma's comments after downgrade of the U.S. triple-A credit rating
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 To: A Mailing list for people interested in Assam from around the world 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 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
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 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
