• Steve H. Hanke
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S&P Board Fires CEO For Telling The Truth, To Be Replaced With COO Of Citibank

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Mon, 08/22/2011 - 21:22 | 1588520 Nevermind
Nevermind's picture

Career risk takes on new meaning. 

Mon, 08/22/2011 - 21:47 | 1588654 km4
km4's picture

The Wall St ponzi economy is worse than Muammar Gaddafi i.e. can't get rid of them fast enough !

Mon, 08/22/2011 - 22:11 | 1588746 Pladizow
Pladizow's picture

Add this to the long list of reasons to own gold and silver.

FUCK: WALL STREET, WASHINGTON AND THE BANKS!

Mon, 08/22/2011 - 22:25 | 1588818 Missiondweller
Missiondweller's picture

Agreed. Until the system collapses and is rebooted I'm not owning paper investments.

Mon, 08/22/2011 - 22:32 | 1588850 phyuckyiu
phyuckyiu's picture

Are you SURE you wish to leave NEGATIVE feedback for this Seller? Double Triple Positive?? (Comments cannot be reversed, and the dispute resolution can cost you your career, or cause large amounts of voltage in the water of hot tubs you happen to find yourself in.)

Mon, 08/22/2011 - 22:52 | 1588907 redpill
redpill's picture

Please select one of the two options:

YES I want to refrain from leaving negative feedback

NO I don't want to leave negative feedback

 

Thank you for using S&Pbay.  Sign up today for your S&Pbay VISA and save 10% on your next purchase*

 

*as long as you don't leave negative feedback

 

Mon, 08/22/2011 - 23:05 | 1588954 phyuckyiu
phyuckyiu's picture

Teehee!

Mon, 08/22/2011 - 23:49 | 1589075 TruthInSunshine
TruthInSunshine's picture

 

 

Oliver Stone or Quentin Tarantino couldn't make this shit up if they were writing scripts while dropping acid.

Mon, 08/22/2011 - 23:59 | 1589097 tip e. canoe
tip e. canoe's picture

think again...

http://www.youtube.com/watch?v=-P70hbHBdl0

"look bitch you knew I was a snake."

Tue, 08/23/2011 - 00:29 | 1589148 TruthInSunshine
Tue, 08/23/2011 - 00:46 | 1589185 eureka
eureka's picture

Here are the snakes:  http://investor.mcgraw-hill.com/phoenix.zhtml?c=96562&p=irol-govboard.

Who will crush the head of the snakes?

Tue, 08/23/2011 - 00:54 | 1589204 tip e. canoe
tip e. canoe's picture

the Lord of Indifference, otherwise known as King "Who Gives a Fuck About These Scumbag Lowlife Cockroaches Anymore, I Got a Peak Oil Wave To Surf?"

Tue, 08/23/2011 - 10:28 | 1590159 Manthong
Manthong's picture

He can cry in his beer down in the lobby bar of the next Bilderberg meeting.

Tue, 08/23/2011 - 12:11 | 1590572 tip e. canoe
tip e. canoe's picture

he's too busy brewing his own.

Tue, 08/23/2011 - 01:36 | 1589253 Dugald
Dugald's picture

Whats the fuss, it's all happened before.....but then it was called.....

                                                                  THE GOON SHOW

Mon, 08/22/2011 - 23:54 | 1589081 Hacked Economy
Hacked Economy's picture

Excellent spoof, everyone.  I really needed that laugh.  ;)

Now S&Pbay will soon be as worthless as eBay is today.  The glory days are behind them.  No need to worry about Deven Sharma, folks...I'm sure he's walking away with millions of dollars in earned salary and stock options.

Oh wait.  Sorry about that...I got the incoming Citibank CEO confused with Sharma for a minute.  Sharma probably only has until the end of the year (end of employment with S&P) at which point he'll have to start checking under his car every morning before starting it.

Tue, 08/23/2011 - 00:39 | 1589170 Nihilarian
Nihilarian's picture

USSA

Tue, 08/23/2011 - 06:54 | 1589453 Silver Dreamer
Silver Dreamer's picture

"it is dangerous to be right when the government is wrong."

Tue, 08/23/2011 - 07:03 | 1589460 Dental Floss Tycoon
Dental Floss Tycoon's picture

He got off better than I expected.  I thought he would get two to the head.

Tue, 08/23/2011 - 11:27 | 1590404 bread n circuses
bread n circuses's picture

wait for it....

Tue, 08/23/2011 - 04:43 | 1589386 slaughterer
slaughterer's picture

Looks like OGolfer has been working on vacation after all.  

Mon, 08/22/2011 - 23:18 | 1588996 Sam Clemons
Sam Clemons's picture

"Governments lie; bankers lie; even auditors sometimes lie: gold tells the truth."
Lord Rees Mogg, economist & former editor of The Times

First we were going to print (borrow) our way to prosperity, then we were going to do accounting tricks on our way to prosperity, now we are going to lie to ourselves on our way to prosperity.  

"The projected U.S. budget deficit for fiscal year 2011 of $1.645 trillion is 43% of total projected government expenditures in 2011 of $3.819 trillion."  Blaming the S&P for this is like blaming the fire on the person who pulls the alarm.

Why do Americans desire to be deceived instead of told the truth?

Mon, 08/22/2011 - 23:35 | 1589046 LongBallsShortBrains
LongBallsShortBrains's picture

Why do Americans desire to be deceived?

Too many lamp post without a politician swinging from them. The "dog " doesn't bite. Once a couple of lamp posts get occupied and they figure out that the dog does bite................. We will learn a lot of truths

Mon, 08/22/2011 - 23:56 | 1589089 Hacked Economy
Hacked Economy's picture

Dude, really?  You can't find an avatar with a Victoria's Secret underwear model, or even a firm set of mamms?  You have to put up a pic of a nutsack?

Tue, 08/23/2011 - 03:55 | 1589361 Seer
Seer's picture

Edward Bernays

Tue, 08/23/2011 - 11:29 | 1590408 bread n circuses
bread n circuses's picture

red down arrow for your avatar.

Tue, 08/23/2011 - 02:30 | 1589303 Koffieshop
Koffieshop's picture

Why do Americans desire to be deceived instead of told the truth?

Because in groups we are prepared so sacrifice some common scene to feel good about ourselves and our community. The smart and ruthless know how to exploit this tenancy to self-delusion, but usually get too cocky ad risk the pitchforks eventually.

This is why we can't have long term peace and stability. Apparently this is good for the species, else evolution would have gotten rid of this effect.

Tue, 08/23/2011 - 11:34 | 1590423 bread n circuses
bread n circuses's picture

The human race has only had widespread access to mass information for 500+ years or so (and really, really good access for the past 10 years).  This is not enough time for genetic evolution to work.  In the meantime, you can evolve your mind by educating yourselves and those around you.  This can ward off this effect you describe.

Tue, 08/23/2011 - 11:53 | 1590501 FreedomGuy
FreedomGuy's picture

Even the ancient scriptures say that offered the truth people often prefer the lie. That is the politicians' and governments' advantage. They know people "want" to believe the tripe they offer.  It is probably rooted in a fundamental preference to hope and believe for the best.

Tue, 08/23/2011 - 05:20 | 1589405 gunsmoke011
gunsmoke011's picture

Always Remember - while playing at this level -- Telling The Truth and Complete Transparity are Deeply Encouraged -- Just Not Tolerated.

Mon, 08/22/2011 - 22:12 | 1588755 Ahmeexnal
Ahmeexnal's picture

Shoarma gets the boot, and in comes Falafel.

Mon, 08/22/2011 - 22:13 | 1588765 Confused
Confused's picture

Who doesn't love falafel? Seriously? 

Mon, 08/22/2011 - 22:27 | 1588830 spiral_eyes
spiral_eyes's picture

we're going into the "dissent will not be tolerated phase". 

first they ignore you, then they laugh at you, then they fight you, then you win.

this is the fight stage. 

Mon, 08/22/2011 - 23:26 | 1589018 tbone654
tbone654's picture

MAN! Waiting to hear German Troops are marching into Poland...  Nothing to see here, move along...

Tue, 08/23/2011 - 06:58 | 1589455 Silver Dreamer
Silver Dreamer's picture

No offense to you meant, but I really hate that quote.  History is full of examples where it fails miserably.  If they equals the govenrment, you often end up dead, not winning.

Mon, 08/22/2011 - 22:00 | 1588706 Mad Marv
Mad Marv's picture

How long can TPTB keep this shit going?  Collapse already, so the healing can begin!

Tue, 08/23/2011 - 00:06 | 1589111 rocker
rocker's picture

Collapse ?  What ?   Can't do that, much more printing needed.  We have not bailed out all that need with new monetary swap lines created by FED to back stop the elite Bond holders who want a New Debt Line of Money Fed to them by the FED.  LOL 

Of course, we have Robert Prechter who has gone radical with 50 charts of old stuff and a 1 hour video of old stuff on why the Dow, S&P, Oil, Gold and Silver are going down. Before anybody jumps me. It was a FREE offer. I just had to read why he has been so wrong on everything again. Might the Dow go down, you bet. Could Gold correct, you bet. But this butt head told subscribers to short the market three Februarys in a row.  Told subscribers to watch silver collapse at $17.00.  This guy also says the FED does not matter and inflation is not real. He has had that view for over three years too. I guess he doesn't buy gas, food, electricity or pay taxess.  Hello, no inflation. LOL again.  

My thought. Stick with ZH, listen to real news and think.  ZH is a great place to start and finish.      

Mon, 08/22/2011 - 22:13 | 1588764 Harbourcity
Harbourcity's picture


 

http://www.cbsnews.com/stories/2011/08/18/eveningnews/main20094323.shtml 

Was unavoidable.  S&P is paid by clients and it lost a lot of clients because of the downgrade... why would you pay a company to do you a downgrade?  Just hire Obama.

 

 

Like the government, it's a business after all. 

Tue, 08/23/2011 - 11:56 | 1590518 bread n circuses
bread n circuses's picture

Next up:  JD Power (a MHP company) gives all auto awards to GM and all Banking Awards to Citi.

Mon, 08/22/2011 - 22:25 | 1588819 oa92000
oa92000's picture


The S&P rating service is big mess itself..

They  gave their highest investment grades to mortgage-related securities which then plunged in value when house prices collapsed.

Mon, 08/22/2011 - 22:39 | 1588871 WonderDawg
WonderDawg's picture

Fuck, are you serious?

Mon, 08/22/2011 - 23:15 | 1588990 Rick64
Rick64's picture

Lol, bet thats the first time you guys heard of that.

Tue, 08/23/2011 - 00:22 | 1589135 Strom
Strom's picture

ZH should do a story on this!!!!!!!!!!!1one

Tue, 08/23/2011 - 03:36 | 1589347 oogs66
oogs66's picture

no way moody's downgrades them now

Tue, 08/23/2011 - 05:43 | 1589415 WarriorClass
WarriorClass's picture

"So let us get this straight: in America when you dare to tell the truth, your career is over, while if you are a corrupt, lying, incompetent tax evader you not only get to be Treasury Secretary but likely will be on for life as long as you do the one duty you are entrusted with: pander to the interests of the Too Big To Fail financial institutions"

This is not new; I found it true in Corporate America for the last 20 years, as well as in the UK.  It's SOP.

Mon, 08/22/2011 - 21:23 | 1588526 rich_maverick
rich_maverick's picture

Got gold??

Mon, 08/22/2011 - 21:59 | 1588652 wang (not verified)
wang's picture

I think before we rush to judgement we should respect the corporate governance that McGraw has in place. The seem like a decent group to me.

Presenting the Board:

 

Mon, 08/22/2011 - 22:07 | 1588735 dukeland
dukeland's picture

Yes, so decent that they have now ordered each letter on all keyboards at S&P to be replaced just one letter "A".

Have fun typing any other letter now, bitches!!

Mon, 08/22/2011 - 22:23 | 1588810 CompassionateFascist
CompassionateFascist's picture

"Douglas N. Daft"? "Hilda Ochoa-Brillembourg"??

Tue, 08/23/2011 - 00:30 | 1589152 TruthInSunshine
TruthInSunshine's picture

 

 

 

The timing of this is BEYOND suspect:

08-22 16:51: McGraw-Hill (MHP) said to get shareholder plan to break up company

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