S & P Downgrader Never Studied Economics, has a Master’s In English Lit.
John Chambers Of S&P Didn't Study Economics | Mogulite
Standard & Poor’s has taken quite a hit for its downgrading of the U.S. credit this week.
First, there was the apparent $2 trillion miscalculation, then Warren Buffett said the downgrading was a ridiculous measure, and talking heads have cried in outrage.
Here’s one thing that doesn’t help: the face of S&P is a liberal arts guy with a masters in English literature, who never studied economics.
The New York Post notes that John Chambers, managing director at S&P who’s been a public face for the agency, is a graduate of the liberal arts-focused Grinnell College who then got an English master’s at Columbia. Impressive, but not quite your usual Wharton undergrad/Harvard Business School pedigree.
Gasp!
Chambers could continue to get more heat in the coming weeks and months. Appearing this morning on ABC’s This Week, Chambers said there’s a 1 in 3 chance that S&P will downgrade the U.S. credit rating even further, in the next 6 months to 2 years.
Some have argued that the three leading credit agencies are given an unfair amount of power.
The ratings they dole out tend to be taken as fact, which can drive markets and cause panic.
On another note, if you’re a liberal arts type looking to become a Ruler of the Universe, there’s hope.
John Chambers