GS WEBZONE: “Deven Sharma resigns as president of S&P” plus 1 more

Tuesday, August 23, 2011

“Deven Sharma resigns as president of S&P” plus 1 more

Deven Sharma resigns as president of S&P

Posted: 23 Aug 2011 12:37 AM PDT

The president of the Standard and Poor's, Deven Sharma has announced to give up his designation by the end of the year. The Wall Street Journal on Monday said that the announcement of Sharma stepping down came just weeks after the credit rating agency had downgraded the American credit rating.

On 12th September, Douglas Peterson will be taking the place of Sharma. Peterson is the chief operating officer of Citigroup Inc's Citibank unit.

Wall Street Journal reports have also stated that Sharma will continue to be at Standard and Poor's by the end of the year as an advisory. Currently, Harold Terry McGraw is the chairman of the US India Business Counsil (USIBC).

The USIBC is a premier business advocacy organization that has the top companies of both the countries. In the year 2006, Deven had joined the company as executive vice president for the Investment Service and Global Sales. Earlier, before Sharma had joined Standard and Poor's, he had worked as an executive vice president at the Global Strategy with the McGraw Hill companies.

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Arundhati Roy severely criticizes Anna Hazare’s movement

Posted: 22 Aug 2011 10:43 PM PDT

Indian novelist Arundhati Roy, on 22nd August had severely criticized veteran activist Anna Hazare's campaign for anti-corruption. According to the Wall Street Journal, the novelist had criticized the way Anna is campaigning for the Jan Lokpal Bill.

The writer had called the whole movement as 'aggressive nationalism'. Roy expressed that the Jan Lokpal Bill that has been suggested by Hazare has excessive powers and had termed it as 'draconian'.

The novelist had also said that Hazare did not follow the Gandhian principles like he claims. Gandhiji's views had talked about decentralization of powers, while Hazare's bill is claiming excessive powers to the Lokpal, under whom the judiciary, prime minister and the members of the parliament would be covered.

Roy had also opined that if Hazare's demands are fulfilled then the Lokpal will have all the potential to be corrupt and will also be partial as it will not have any check on the powers of the private corporations, the media as well as the non- governmental organizations.