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Monday, August 22, 2011

S&P Sacks Its President

Just a few weeks after S&P downgraded the U.S. sovereign debt rating, the company decided to replace its president.  McGraw Hill owns S&P, and they are claiming that this was planned from last year.  Right.  S&P is also under investigation by a Justice Department probe for its activities surrounding the mortgage crisis.  Basically the U.S. government has declared all out war on S&P since the downgrade, at this is unlikely to relent, even if they dump Deven Sharma, their current president.  We reap what we sew.

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