Wow, talk about corrupt
 

Review my 10,000 political posts and I never use the word corrupt, but man, this is bad.
So S&P, which said it would reduce the rating if there were not a certain level of cuts, follows through on its word. Obama and the Dems unleash the attack dogs and now this.....

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.

Citibank??? You mean the company that received billions and billions from the treasury? The company at the height of the wall st fervor? Are you kidding me? Sound like Chicago politics to me
So Dems, I listened to all kinds of Halliburton conspiracies but was there ever anything as obvious as THIS?????? Where are the journalists now????????????

Give it time......

You do know that the S&P is a business, right? And that they can put whomever they want at the helm?

The Haliburton "conspiracies" were due to direct ties between the VP and major, no-bid contracts being handed over to them.

You're really grasping at straws when it comes to making any correlation here. How does a bank that received TARP money (which was requested by and signed into law by Bush) compare to Haliburton receiving no-bid contracts (also under Bush)?

There are much better, and obvious, examples of the Obama administration putting corporate big wigs into political roles.

And when the rating goes up Obama's rating goes up too. Correlation??

What are you even talking about?

Your kidding, right?
so a major corporation disses the US credit and get extreme heat from the Obama admin.
Within weeks, the president of the corporation is ousted and in his place the head of a company that has received billions and billions from the Obama administration. Thats a coincidence?

that, and Justice Department and Senate investigations I believe...yup..just coincidence

Citibank received $300B in 2008. Again, it was received under Bush, so no, I'm not kidding.
U.S. Agrees to Rescue Struggling Citigroup - WSJ.com

That...and I believe S&P was already under investigation for ratings abuse on mortgage backed securities. Quite likely their president wouldn't have lasted long anyway.

As for picking a replacement that had received bailout money...didn't most of them?

The conspiracy theorists would say the downgrade was retrobution for the investigations.

-spence

let's see, what seems more plausible? S&P Downgrades America as an unnecessary and in your face threat to the Obama Admin over an investigation by the Justice Dept which they "swear" began prior to the downgrade...

or a really angry Obama Admin and their notoriously out of control Justice Department launch and investigation of S&P as retribution for defying them and downgrading America...oh, and there's the angry dems in the Senate too...

plenty of kisses from the Obama Admin to Citigroup Johnny

U.S. gave up billions in tax money in deal for Citigroup's bailout repayment

Obama Advisers' Citigroup Ties Raise Questions - NYTimes.com

:soon:

Did you believe in the Halliburon conspiracy theory?

i think they were given preferential treatment based on their realtionship with the VP
I also think Halliburton was the best bid/best equipped.

this thing with citibank seems way, way too fishy

I agree with your Halliburton statement. The VP prob. said "I know Halliburton can do it" - the same as anyone else would do.

I don't agre with Citibank.

See.....

So who gets hired to police an industry if you don't hire people with the that industries experience? If you hire someone with no experience, people complain, if you hire someone w/experience - people complain.