US Rating:Jharkhand boy shakes the world
MUMBAI: About four months after MS Dhoni's boys won the Cricket World Cup for India, another man from Jharkhand (India) has now shook up the world. On August 5, Standard & Poor's, led by Jharkhand-born Deven Sharma, struck off the 'AAA' rating of the US, considered the Gold standard in the world of finance, for the first time since 1914.
On that Friday afternoon, S&P officials told Barak Obama's treasury department that the ratings major's analysts have come to a decision that the US no longer deserves to be among the best rated countries in the world. After six hours and a flurry of emails, phone calls and conferences between top officials in the Obama administration and Sharma's team of number-crunchers, the world got to know of the unprecedented move - something that was in the air for a few months but which appeared more like a distant possibility: The US' country rating was downgraded one notch to 'AA-plus'. And suddenly the 57-year old Sharma was in the spotlight, hailed by a select few, but criticized by several in the financial world.
And all this time I thought it was John Chambers who was chairman of S&P's sovereign debt committee.
But if someone else wants to take the blame for the ratings downgrade, they are welcome to it.
I somehow started believing in what Putin says about American Economy (being Parasite of the world ) :)-
I really don't se the fuss. Theer are more than one rating agencies. Most analysts had predicted this. It doesn't really alter things in any way - does it ?
Interesting subject to discuss. AAA to AA is going to shake the finance sector of the whole world and ultimatley gold price will again increase as everybody will start changing their investments to gold. If you have money buy gold now.
Rizk, i think so. rest, mods can do their job as usual if they think otherwise !
painther u sure u have posted in the right place ?