Jharkhand boy shakes the world

Jharkhand boy shakes the world

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.