S&P Board Fires CEO For Telling The Truth, To Be Replaced With COO Of Citibank

[Bindare_Dundat]

S&P Board Fires CEO For Telling The Truth, To Be Replaced With COO Of Citibank
 
http://www.zerohedge.com/news/sp-boa...d-coo-citibank
 
Following years of pandering to client demands, and assigning trillions of dollars in fixed income securities with whatever rating money bought (among other things, a factor to the credit bubble and its subsequent implosion) S&P finally tried to do the right thing and tell the truth. However in this case it picked if not the worst, then certainly the most hypocriticial credit in the world to expose - the US itself. Sure enough two weeks after the downgrade, someone made the phone call and the CEO Deven Sharma is no more. As for the kick square in the gonads: Sherma will be replaced with the COO of...you know it... the bank which demanded tens of billions in secret Fed bailout loans itself, Citibank, and whose existence is inextricably tied to America not seeing any more downgrades ever again.

[Soul Crusher]

W.


T


F

!

! 

! 

[Fury]

The Obama giveth and the Obama taketh away.

[Bindare_Dundat]

lol

Nothing to see here folks.

[Fury]

Citi is a walking corpse second only to Bank of America at this point. Why would anyone bother recruiting an executive from there? Was Brian Moynihan not available or is he still being served up as the sacrificial lamb for BOA's incoming implosion?

[Soul Crusher]

lol

Nothing to see here folks.

e are truly in an outlaw junta or banana republic.   WTF!

[Fury]

It was probably remove him or have the DOJ come down hard on S&P. Obama sent his dogs on S&P the day they made the downgrade (after their attempts to force them not to do it failed).

[Soul Crusher]

It was probably remove him or have the DOJ come down hard on S&P. Obama sent his dogs on S&P the day they made the downgrade (after their attempts to force them not to do it failed).

did you see my story from NYT about bam shitting down the fraud probe? 


we are so screwed! 

[Vince G, CSN MFT]

It was probably remove him or have the DOJ come down hard on S&P. Obama sent his dogs on S&P the day they made the downgrade (after their attempts to force them not to do it failed).

I don't feel sorry for the S & P.  They made hundreds of millions of dollars giving AAA ratings to those sub-prime mortgage loans and derivatives that caused financial meltdown

[Soul Crusher]

I don't feel sorry for the S & P.  They made hundreds of millions of dollars giving AAA ratings to those sub-prime mortgage loans and derivatives that caused financial meltdown

Sad. 

[Bindare_Dundat]

Citi is a walking corpse second only to Bank of America at this point. Why would anyone bother recruiting an executive from there? Was Brian Moynihan not available or is he still being served up as the sacrificial lamb for BOA's incoming implosion?

Bank of America's stock fell 7.9% to $6.42. The selling dragged down shares of other large banks, with JPMorgan Chase falling nearly 3%, and Citigroup's stock sliding 2.7%.

Benny's Bank of Trash took a nose dive. I guess looking for patterns in the skid marks of his underwear didn't help.

[Emmortal]

Citi is a walking corpse second only to Bank of America at this point. Why would anyone bother recruiting an executive from there? Was Brian Moynihan not available or is he still being served up as the sacrificial lamb for BOA's incoming implosion?

Why was Geitner put in charge of the Treasury?  Come on dude, you should know better by now.