Apropos the edit “Rating the raters” (August 25), the resignation of Deven Sharma as chief of Standard & Poor’s is less reflective of his lack of competence and more of the rating organisation’s vulnerability to pressures from superpowers. If sovereign rating companies moderate their assessment of national economies based on hints from influential governments, then they do not measure up to the requirement of business ethics.
As for the US, the country, though struggling with an economic crisis, has still not given up on its false notion of being superior. Instead of browbeating the rating agency, it should overcome the resistance from conservative forces at home to regain its lost status.
Y G Chouksey, Pune
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