I don't know if you hear it or not, but President of Standard & Poors resigned from his position. Here is part of the article:
"Standard & Poor's President Deven Sharma is leaving the credit-rating firm at the end of the year, the company said Monday night.
Mr. Sharma will step down as president on Sept. 12 and be succeeded by Douglas Peterson, chief operating officer of Citigroup Inc.'s Citibank unit. Mr. Sharma will remain at S&P through the end of the year in an advisory capacity, working with McGraw-Hill Cos. Chairman, President and Chief Executive Harold "Terry" McGraw III as the company explores a separation of its education business.
The moves come as S&P faces questions about its controversial downgrade earlier this month of long-term U.S. debt and as the Securities and Exchange Commission and U. S. Justice Department look closely at the conduct of S&P, as well as other major credit rating firms, for their roles in developing mortgage-bond deals that helped to trigger the financial crisis, according to people familiar with the matter.
Mr. Sharma's departure has been underway since the beginning of the year and is unrelated to the firm's controversial downgrade earlier this month of long-term U.S. debt, the firm said."
The way I see it it's only a political reason. I mean, they didn't downgrade AIG company which by CDS gave its AAA raiting to other companies, but you decided to be first to downgrade US? Yes, there were possibility for US to default, but everyone knows that they had budget celling which couse problems, not that they didn't have the money to pay their obligations (like Grecce). And if a firm like Enron was capable to arrange that some analyst that didn't rate them as "Buy", get sacked, what do you think No. 1 economy in the world is capable to do?
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