Tuesday, December 6, 2011

Why Was Deven Sharma Castigated?

Standard and Poor has put most of the Euro Zone on watch list.
That is what a credit rating company is supposed to do.
If a cook does not cook then anybody and everybody in western countries will fire him.
If a credit rating company does not give the correct assessment then people will not believe them. They will ditch that company.
But when the credit rating of US was sliced down from AAA it was not taken as an excellent piece of work by the credit rating company itself.
They fired the then president Deven Sharma?
Actually it is not that the said credit rating company has poor standards. The reality is that whole western philosophy is like that. It is west centric but portrays itself as unbiased.