Jharkhandis lead the march to Downgrades

Last updated on Aug 9, 2011

Posted on Aug 9, 2011

People from Jharkhand are on rampage to downgrade everything they represent.  While MS Dhoni’s – the guy from Jharkhand – not so stellar captaincy has led to big losses in the current series in England, another man from Jharkhand is behind the very controversial and stunning downgrade of US Credit Rating from AAA to AA+.  His name is Deven Sharma.

An engineer from BIT Ranchi with Master’s Degree from Wisconsin and Doctorate in Management from Ohio; Deven Sharma is the President of Standards & Poors.  He has stood firm behind the current downgrade.

It is indeed a quirk of fate that the Credit Downgrade of the largest and the most powerful economy in the world was led by a man whose journey and education started in a Third World country, which was beset with Credit worries of its own for majority of his growing years.  I still remember the hue and cry everytime India’s rating was downgraded and inflation rose in the past decades.  The critique of the organization doing it – Moody’s or S&P – by the internal analysts and the politicians was very common.  “How dare they?”

Given how recklessly US has led its economic life in the past one decade has been instrumental in the creation of the current situation.

Ultimately, it took an erstwhile Bihari (Jharkhandi) to tell the master of the world that things were achanging.

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