"The Ronan Report" provides insight about the activities at the Western Maryland Health System in Cumberland, Maryland, and about the changes taking place in healthcare today from a CEO's perspective.

Tuesday, August 23, 2011

"Ready for New Challenges"

I just read this morning that the president of Standard & Poor's is stepping down as he is "ready for new challenges."  Wow, that took longer than I thought.  The same article commented on the recent downgrade of the US credit rating by S&P and added that neither Moody's nor Fitch has lowered their rating of the US.  Did anyone think that either agency would consider a downgrade of the US credit rating after a DOJ investigation into S&P for improperly rating mortgage securities and the president of S&P is forced to resign?  I, for one, thought that S&P did the right thing by downgrading the US credit rating, but to what end?  This isn't a coincidence on the part of the Obama Administration.  Do the right thing, but be prepared to suffer the consequences.

No comments:

Post a Comment