Jharkhand boy shakes the world

0
50

About four months after MS Dhoni’s boys won the Cricket World Cup for India, another man from Jharkhand has managed to shake up the world. On 5 August, Standard & Poor’s, led by Jharkhand-born Deven Sharma, struck off the ‘AAA’ rating of the US, considered the Gold standard in the world of finance, for the first time since 1914. On that Friday afternoon, S&P officials told Barak Obama’s treasury department that the ratings major’s analysts have come to a decision that the US no longer deserves to be among the best rated countries in the world. After six hours and a flurry of emails, phone calls and conferences between top officials in the Obama administration and Sharma’s team of number-crunchers, the world got to know of the unprecedented move — something that was in the air for a few months but which appeared more like a distant possibility: The US’ country rating was downgraded one notch to ‘AA-plus’. And suddenly 57-year old Sharma was in the spotlight, hailed by a select few, but criticised by several in the financial world.