Attacks on S&P Commence After US Government Debt Downgrade

After the downgrade of long-term US Government debt, the debate continues over its significance. One issue in the debate is to attack S&P, ie, the messenger. This article in the NY Post criticizes the lead analyst.

The Wall Street bean counter who trashed America’s global credit reputation is a New Yorker who never studied economics, majored in literature and philosophy, and has a master’s in English lit.

Yet John Chambers, 55, who lives with his wife, daughter and two dogs on Riverside Drive, has became the stern public face of Standard & Poor’s, the private agency that wreaked havoc Friday night by notching down the nation’s credit to double-A from triple-A.
. . .
David Wargin, an S&P spokesman, told The Post that Chambers, a chartered financial analyst, chairs the agency’s sovereign-rating committee, made up of “senior sovereign analysts” with various backgrounds.

Its more accurate to use the phrase Chartered Financial Analyst because it is a professorial credential that seems to require a series of difficult tests.


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